Michael Speiser Sells 50,338 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 50,338 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $257.30, for a total value of $12,951,967.40. Following the completion of the sale, the director directly owned 33,596 shares in the company, valued at $8,644,250.80. This represents a 59.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Snowflake Stock Up 2.3%

NYSE SNOW traded up $6.06 during trading on Monday, reaching $268.92. 3,033,622 shares of the company’s stock were exchanged, compared to its average volume of 4,116,139. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The company’s fifty day simple moving average is $241.16 and its 200-day simple moving average is $216.31. The firm has a market capitalization of $91.11 billion, a PE ratio of -64.80 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. Sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of SNOW. Goldman Sachs Group Inc. raised its position in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock worth $524,293,000 after acquiring an additional 650,775 shares during the period. CenterBook Partners LP bought a new position in Snowflake in the 1st quarter worth approximately $2,381,000. Berkshire Capital Holdings Inc. boosted its position in shares of Snowflake by 71,500.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock worth $1,047,000 after acquiring an additional 7,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Snowflake during the 2nd quarter valued at approximately $6,845,000. Finally, Lyell Wealth Management LP increased its holdings in shares of Snowflake by 5.1% in the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock worth $8,870,000 after buying an additional 2,955 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on SNOW shares. Jefferies Financial Group boosted their price objective on shares of Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Robert W. Baird raised their price objective on Snowflake from $215.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Wells Fargo & Company began coverage on shares of Snowflake in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $275.00 price target on the stock. Macquarie increased their target price on shares of Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, JMP Securities lifted their price target on shares of Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $258.95.

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.