Snowflake (NYSE:SNOW) Shares Down 1.1%

Snowflake Inc. (NYSE:SNOW) traded down 1.1% during trading on Wednesday . The stock traded as low as $149.11 and last traded at $150.30. 4,705,665 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 5,239,566 shares. The stock had previously closed at $151.98.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. Citigroup reduced their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Wedbush boosted their target price on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Royal Bank of Canada dropped their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Barclays dropped their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Finally, JMP Securities boosted their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Stock Down 1.1 %

The business’s 50 day simple moving average is $182.44 and its two-hundred day simple moving average is $179.47. The stock has a market cap of $50.23 billion, a P/E ratio of -58.94 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. As a group, research analysts forecast that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the transaction, the senior vice president now owns 726,567 shares of the company’s stock, valued at approximately $167,110,410. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the completion of the sale, the senior vice president now directly owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The disclosure for this sale can be found here. Insiders have sold a total of 179,055 shares of company stock worth $36,633,917 over the last three months. 8.30% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Large investors have recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Snowflake in the third quarter worth about $458,000. Sequoia Financial Advisors LLC raised its holdings in shares of Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after buying an additional 3,152 shares during the period. Glynn Capital Management LLC grew its stake in Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after purchasing an additional 5,629 shares in the last quarter. Raymond James & Associates boosted its position in shares of Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after acquiring an additional 105,937 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Snowflake by 53.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,442 shares of the company’s stock worth $1,083,000 after acquiring an additional 1,890 shares in the last quarter. 65.10% of the stock is currently 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.