Snowflake (NYSE:SNOW) Stock Price Down 1.2% – What’s Next?

Shares of Snowflake Inc. (NYSE:SNOW) fell 1.2% during mid-day trading on Friday . The stock traded as low as $215.21 and last traded at $217.9450. 3,865,120 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 5,257,860 shares. The stock had previously closed at $220.51.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SNOW shares. Mizuho increased their target price on Snowflake from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Piper Sandler reissued an “overweight” rating and set a $285.00 price target on shares of Snowflake in a research report on Thursday, December 4th. Sanford C. Bernstein restated a “market perform” rating and issued a $237.00 price objective on shares of Snowflake in a report on Thursday, December 4th. Truist Financial increased their target price on shares of Snowflake from $235.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $274.78.

Snowflake Price Performance

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.48. The firm has a market cap of $73.84 billion, a price-to-earnings ratio of -53.95 and a beta of 1.09. The stock has a 50-day moving average price of $250.59 and a 200 day moving average price of $227.07.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business posted $0.20 earnings per share. Snowflake’s quarterly revenue was up 28.7% on a year-over-year basis. As a group, equities research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 33,596 shares of the company’s stock, valued at approximately $8,644,250.80. The trade was a 59.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 7,551 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the sale, the director directly owned 153,226 shares of the company’s stock, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 221,360 shares of company stock worth $53,391,315. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Callan Family Office LLC acquired a new position in Snowflake during the first quarter worth about $637,000. Rathbones Group PLC purchased a new position in Snowflake in the first quarter valued at about $291,000. Resona Asset Management Co. Ltd. increased its holdings in Snowflake by 6.5% in the first quarter. Resona Asset Management Co. Ltd. now owns 89,849 shares of the company’s stock valued at $13,183,000 after buying an additional 5,497 shares in the last quarter. Finally, Prudential PLC lifted its position in shares of Snowflake by 145.1% during the 1st quarter. Prudential PLC now owns 42,725 shares of the company’s stock valued at $6,245,000 after acquiring an additional 25,296 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.