Snowflake (NYSE:SNOW) Shares Up 0.1%

Snowflake Inc. (NYSE:SNOW) shares were up 0.1% during trading on Tuesday . The company traded as high as $159.64 and last traded at $158.27. Approximately 1,011,404 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 7,078,333 shares. The stock had previously closed at $158.14.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $230.00 price target on shares of Snowflake in a research note on Thursday, February 29th. Scotiabank upped their price target on shares of Snowflake from $194.00 to $226.00 and gave the stock a “sector outperform” rating in a research note on Thursday, November 30th. JMP Securities raised their price objective on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their target price on shares of Snowflake from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, November 30th. Finally, Redburn Atlantic reissued a “sell” rating and set a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $202.50.

Snowflake Stock Up 1.3 %

The stock has a market cap of $52.70 billion, a PE ratio of -62.76 and a beta of 0.94. The firm has a 50 day moving average price of $195.94 and a 200 day moving average price of $179.43.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.80% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Equities analysts forecast that Snowflake Inc. will post -1.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares in the company, valued at $11,406,744.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,355 shares of company stock valued at $37,679,411. 8.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNOW. Accent Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $25,000. Mango Five Family Inc. purchased a new stake in Snowflake during the fourth quarter worth $26,000. Ulland Investment Advisors LLC grew its position in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after buying an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of Snowflake by 333.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Finally, Provence Wealth Management Group acquired a new stake in shares of Snowflake during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

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.