Snowflake (NYSE:SNOW) Trading Up 3.6%

Snowflake Inc. (NYSE:SNOW)’s stock price was up 3.6% on Friday . The stock traded as high as $160.29 and last traded at $158.03. Approximately 2,292,157 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 6,476,134 shares. The stock had previously closed at $152.50.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SNOW shares. Piper Sandler reiterated an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a report on Tuesday, February 27th. HSBC restated a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Truist Financial lowered their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Citigroup lowered their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Three research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Stock Performance

The company has a 50 day moving average of $169.91 and a 200 day moving average of $179.05. The stock has a market capitalization of $52.85 billion, a price-to-earnings ratio of -62.01 and a beta of 0.91.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) 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 firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. On average, equities analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, SVP Christian Kleinerman sold 10,000 shares of the 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 approximately $162,044,740. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Benoit Dageville sold 8,515 shares of the firm’s stock in a transaction that occurred on 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 owns 55,216 shares in the company, valued at approximately $8,627,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 736,567 shares in the company, valued at approximately $162,044,740. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,209 shares of company stock valued at $34,291,592. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Vanguard Group Inc. grew its holdings in shares of Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. FMR LLC grew its holdings in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after purchasing an additional 1,496,235 shares during the period. Sands Capital Management LLC grew its holdings in shares of Snowflake by 12.6% during the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares during the period. Norges Bank purchased a new position in shares of Snowflake during the 4th quarter worth $838,455,000. Finally, Northern Trust Corp grew its holdings in shares of Snowflake by 5.4% during the 3rd quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock worth $287,556,000 after purchasing an additional 95,814 shares during the period. 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.