Snowflake (NYSE:SNOW) Trading Up 1.6%

Snowflake Inc. (NYSE:SNOW) rose 1.6% on Wednesday . The stock traded as high as $155.08 and last traded at $153.54. Approximately 1,346,214 shares were traded during trading, a decline of 79% from the average daily volume of 6,527,418 shares. The stock had previously closed at $151.17.

Analyst Ratings Changes

SNOW has been the subject of a number of recent analyst reports. Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Friday, April 5th. Needham & Company LLC cut their price objective on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. JMP Securities upped their target price on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a report on Thursday, February 29th. Finally, Mizuho reissued a “buy” rating and issued a $205.00 price target (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Stock Performance

The firm has a 50 day moving average price of $174.58 and a 200-day moving average price of $179.32. The company has a market cap of $51.80 billion, a P/E ratio of -60.21 and a beta of 0.91.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, sell-side analysts forecast that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the senior vice president now owns 736,567 shares of the company’s stock, valued at $162,044,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the senior vice president now directly owns 736,567 shares of the company’s stock, valued at $162,044,740. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,209 shares of company stock valued at $34,291,592. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Snowflake in the 4th quarter valued at about $838,455,000. Vanguard Group Inc. lifted its stake in shares of Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after acquiring an additional 1,559,830 shares during the period. FMR LLC boosted its holdings in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Winslow Capital Management LLC bought a new stake in Snowflake during the 3rd quarter worth about $226,302,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Snowflake in the 1st quarter valued at about $171,608,000. Institutional investors and hedge funds 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.