Snowflake (NYSE:SNOW) Shares Gap Up to $152.50

Snowflake Inc. (NYSE:SNOW) gapped up before the market opened on Friday . The stock had previously closed at $152.50, but opened at $159.76. Snowflake shares last traded at $158.38, with a volume of 1,239,867 shares.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. UBS Group boosted their target price on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Evercore ISI decreased their target price on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Oppenheimer reduced their price objective on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, Raymond James boosted their price objective on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Price Performance

The firm’s fifty day moving average price is $169.91 and its two-hundred day moving average price is $179.05. The stock has a market cap of $52.85 billion, a price-to-earnings ratio of -62.01 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. On average, equities research analysts anticipate that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Activity

In other news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares in the company, valued at $4,457,133.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the sale, the chief accounting officer now directly 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 SEC, which is available at this hyperlink. Also, EVP Grzegorz Czajkowski sold 683 shares of the business’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 $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,209 shares of company stock worth $34,291,592. Company insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in SNOW. Yousif Capital Management LLC grew its position in Snowflake by 10.6% in the 1st quarter. Yousif Capital Management LLC now owns 3,441 shares of the company’s stock worth $556,000 after purchasing an additional 331 shares in the last quarter. Peregrine Capital Management LLC grew its position in Snowflake by 22.1% in the 1st quarter. Peregrine Capital Management LLC now owns 212,284 shares of the company’s stock worth $34,305,000 after purchasing an additional 38,389 shares in the last quarter. KG&L Capital Management LLC grew its position in Snowflake by 206.6% in the 1st quarter. KG&L Capital Management LLC now owns 9,850 shares of the company’s stock worth $1,592,000 after purchasing an additional 6,637 shares in the last quarter. Robeco Schweiz AG grew its position in Snowflake by 2.7% in the 1st quarter. Robeco Schweiz AG now owns 22,600 shares of the company’s stock worth $3,652,000 after purchasing an additional 600 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after purchasing an additional 11,677 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

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.