Snowflake Inc. (NYSE:SNOW) Director Sells $121,247.04 in Stock

Snowflake Inc. (NYSE:SNOW) Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Snowflake Stock Up 0.0 %

Snowflake stock opened at $137.49 on Thursday. The business has a 50-day simple moving average of $143.67 and a two-hundred day simple moving average of $170.07. The company has a market cap of $46.03 billion, a P/E ratio of -49.10 and a beta of 0.85. Snowflake Inc. has a 52-week low of $122.60 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Research analysts anticipate that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Accent Capital Management LLC bought a new position in shares of Snowflake during the 4th quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Snowflake during the 1st quarter valued at approximately $29,000. FinTrust Capital Advisors LLC grew its stake in shares of Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares during the period. Riverview Trust Co purchased a new position in Snowflake in the 1st quarter worth approximately $31,000. Finally, M&R Capital Management Inc. boosted its stake in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SNOW shares. KeyCorp raised their price objective on Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. UBS Group lifted their price target on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Snowflake in a research report on Wednesday, June 5th. Macquarie lowered their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $199.46.

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.