Snowflake (NYSE:SNOW) Trading 0.8% Higher

Snowflake Inc. (NYSE:SNOW)’s share price traded up 0.8% on Wednesday . The stock traded as high as $125.60 and last traded at $125.19. 1,522,959 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 6,534,572 shares. The stock had previously closed at $124.21.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on Snowflake from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Barclays boosted their target price on shares of Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a report on Thursday, May 23rd. Bank of America restated a “neutral” rating and set a $200.00 target price on shares of Snowflake in a report on Wednesday, June 12th. Loop Capital dropped their price target on Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 price objective (down from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.64.

Snowflake Trading Up 4.7 %

The stock has a market cap of $43.52 billion, a PE ratio of -44.71 and a beta of 0.85. The company has a fifty day moving average of $146.63 and a 200-day moving average of $174.37.

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

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the transaction, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,147 shares of company stock worth $6,686,742. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake in the fourth quarter valued at about $25,000. LRI Investments LLC acquired a new stake in Snowflake in the first quarter valued at about $29,000. FinTrust Capital Advisors LLC grew its holdings in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after acquiring an additional 128 shares during the last quarter. Riverview Trust Co acquired a new position in Snowflake in the first quarter valued at $31,000. Finally, M&R Capital Management Inc. raised its stake in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares during the period. 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.