Snowflake (NYSE:SNOW) Shares Up 0.1%

Snowflake Inc. (NYSE:SNOW) rose 0.1% on Tuesday . The company traded as high as $114.39 and last traded at $112.95. Approximately 656,135 shares traded hands during trading, a decline of 90% from the average daily volume of 6,542,505 shares. The stock had previously closed at $112.84.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America cut their target price on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Stifel Nicolaus decreased their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company dropped their price target on Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group lowered their price target on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.03.

Snowflake Price Performance

The stock has a market cap of $38.21 billion, a PE ratio of -40.72 and a beta of 0.83. The firm’s 50 day moving average price is $121.87 and its two-hundred day moving average price is $140.21.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.52) EPS. Analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 518,498 shares of company stock valued at $63,995,494. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. lifted its stake in shares of Snowflake by 27.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock worth $451,000 after acquiring an additional 722 shares during the last quarter. Heritage Wealth Management Inc. bought a new position in shares of Snowflake during the 2nd quarter worth approximately $530,000. Sanctuary Advisors LLC purchased a new stake in shares of Snowflake during the 2nd quarter valued at $3,352,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Snowflake during the second quarter worth about $142,000. Finally, Cetera Investment Advisers increased its stake in Snowflake by 8.0% during the 2nd quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock valued at $9,294,000 after purchasing an additional 5,112 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.