Snowflake (NYSE:SNOW) Shares Down 0.2%

Snowflake Inc. (NYSE:SNOW) shares dropped 0.2% during mid-day trading on Monday . The company traded as low as $144.60 and last traded at $145.09. Approximately 1,567,657 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 6,588,967 shares. The stock had previously closed at $145.45.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Citigroup lowered their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Friday, April 5th. KeyCorp assumed coverage on Snowflake in a report on Thursday, April 11th. They set an “overweight” rating and a $185.00 price objective on the stock. Evercore ISI decreased their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Finally, Oppenheimer decreased their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Price Performance

The firm has a market cap of $50.52 billion, a price-to-earnings ratio of -59.28 and a beta of 0.91. The firm has a 50 day moving average price of $174.58 and a 200-day moving average price of $179.32.

Snowflake (NYSE:SNOW) last issued its quarterly 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 13.79% and a negative net margin of 29.79%. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, sell-side analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the transaction, the senior vice president now owns 726,567 shares of the company’s stock, valued at $167,110,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares of the company’s stock, valued at $167,110,410. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of the business. Global Retirement Partners LLC increased its holdings in shares of Snowflake by 57.0% in the first quarter. Global Retirement Partners LLC now owns 832 shares of the company’s stock worth $134,000 after acquiring an additional 302 shares in the last quarter. Wealth Advisory Solutions LLC increased its holdings in shares of Snowflake by 55.9% in the first quarter. Wealth Advisory Solutions LLC now owns 2,650 shares of the company’s stock worth $428,000 after acquiring an additional 950 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Snowflake by 1,750.0% in the first quarter. WASHINGTON TRUST Co now owns 740 shares of the company’s stock worth $120,000 after acquiring an additional 700 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Snowflake by 26.1% in the first quarter. Venturi Wealth Management LLC now owns 1,474 shares of the company’s stock worth $238,000 after acquiring an additional 305 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of Snowflake by 20.0% in the first quarter. Summit Trail Advisors LLC now owns 35,115 shares of the company’s stock worth $5,675,000 after acquiring an additional 5,847 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.