Snowflake (NYSE:SNOW) Director Sells $7,127,860.80 in Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, May 1st. The shares were sold at an average price of $141.60, for a total value of $7,127,860.80. Following the sale, the director directly owned 28,556 shares in the company, valued at $4,043,529.60. The trade was a 63.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snowflake Stock Up 2.3%

Snowflake stock traded up $3.29 during mid-day trading on Monday, hitting $144.29. 6,182,074 shares of the company’s stock traded hands, compared to its average volume of 8,406,242. Snowflake Inc. has a one year low of $118.30 and a one year high of $280.67. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average price of $158.11 and a 200 day moving average price of $202.46.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. Equities analysts predict that Snowflake Inc. will post -2.16 earnings per share for the current year.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of SNOW. Brighton Jones LLC raised its position in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC grew its holdings in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of Snowflake during the second quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Snowflake by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after buying an additional 1,521 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SNOW shares. Citigroup dropped their price objective on Snowflake from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. UBS Group dropped their price objective on Snowflake from $235.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. TD Cowen cut their target price on Snowflake from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Truist Financial set a $125.00 target price on Snowflake in a research report on Wednesday, April 15th. Finally, Barclays cut their target price on Snowflake from $204.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $242.19.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.