Snowflake (NYSE:SNOW) Shares Up 0.1%

Shares of Snowflake Inc. (NYSE:SNOW) rose 0.1% during mid-day trading on Tuesday . The company traded as high as $158.58 and last traded at $157.60. Approximately 694,507 shares changed hands during trading, a decline of 89% from the average daily volume of 6,442,419 shares. The stock had previously closed at $157.44.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNOW shares. Stifel Nicolaus lowered their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Truist Financial decreased their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their target price on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $202.77.

Snowflake Stock Performance

The stock has a market cap of $52.14 billion, a price-to-earnings ratio of -61.18 and a beta of 0.90. The stock’s 50-day simple moving average is $165.95 and its two-hundred day simple moving average is $178.97.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm 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%. As a group, research analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 155,676 shares of company stock valued at $31,784,491. 8.30% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rakuten Securities Inc. acquired a new stake in shares of Snowflake in the 4th quarter valued at $790,000. Sequoia Financial Advisors LLC raised its position in shares of Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after acquiring an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Snowflake in the 3rd quarter worth $458,000. Glynn Capital Management LLC grew its stake in shares of Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares during the period. Finally, Raymond James & Associates grew its position in shares of Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after buying an additional 105,937 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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, as well as applies artificial intelligence (AI) for solving business problems.