Snowflake (NYSE:SNOW) Stock Price Down 2.8%

Snowflake Inc. (NYSE:SNOW) shares were down 2.8% on Thursday . The company traded as low as $149.55 and last traded at $150.61. Approximately 1,152,432 shares changed hands during trading, a decline of 82% from the average daily volume of 6,493,856 shares. The stock had previously closed at $154.99.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SNOW. Mizuho restated a “buy” rating and issued a $205.00 target price (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price (down from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Bank of America cut their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Evercore ISI cut their target price on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Finally, Citigroup cut their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Three 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Stock Up 3.7 %

The stock’s 50 day moving average price is $169.91 and its two-hundred day moving average price is $178.94.

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

Insiders Place Their Bets

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the transaction, the senior vice president now directly owns 726,567 shares of the company’s stock, valued at $167,110,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares in the company, valued at $8,627,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following 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. Insiders have sold 168,209 shares of company stock valued at $34,291,592 over the last three months. 8.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Accent Capital Management LLC bought a new stake in Snowflake during the fourth quarter valued at about $25,000. Ulland Investment Advisors LLC boosted its holdings 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 acquiring an additional 135 shares during the period. Provence Wealth Management Group bought a new stake in shares of Snowflake in the third quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after buying an additional 72 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the period. 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.