Snowflake (NYSE:SNOW) Trading 0.5% Higher

Snowflake Inc. (NYSE:SNOW) shares were up 0.5% during mid-day trading on Monday . The company traded as high as $161.44 and last traded at $160.14. Approximately 846,171 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 6,306,409 shares. The stock had previously closed at $159.32.

Analyst Ratings Changes

Several research firms have weighed in on SNOW. BNP Paribas upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Thursday, May 2nd. Redburn Atlantic reiterated a “sell” rating and issued a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Truist Financial cut their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Bank of America lowered their price target on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a report on Thursday, February 29th. Finally, UBS Group lifted their price objective on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $202.77.

Snowflake Stock Down 0.9 %

The stock has a fifty day moving average price of $160.35 and a 200-day moving average price of $179.27. The firm has a market cap of $52.71 billion, a price-to-earnings ratio of -61.87 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. As a group, research analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 8,515 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the sale, the insider now owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,458 shares of company stock worth $31,585,640. 8.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently made changes to their positions in the stock. Rakuten Securities Inc. purchased a new stake in Snowflake in the 4th quarter worth approximately $790,000. Sequoia Financial Advisors LLC increased its stake in Snowflake by 209.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after purchasing an additional 3,152 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Snowflake during the third quarter worth about $458,000. Glynn Capital Management LLC boosted its stake in Snowflake by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after buying an additional 5,629 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after buying an additional 105,937 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

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.