Snowflake (NYSE:SNOW) Stock Price Up 0.2%

Snowflake Inc. (NYSE:SNOW) shares were up 0.2% during trading on Friday . The company traded as high as $150.09 and last traded at $148.68. Approximately 1,075,955 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,602,226 shares. The stock had previously closed at $148.41.

Analysts Set New Price Targets

A number of research analysts recently commented on SNOW shares. Piper Sandler reiterated an “overweight” rating and issued a $250.00 price objective on shares of Snowflake in a report on Tuesday, February 27th. Oppenheimer cut their price objective on Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Truist Financial cut their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Bank of America cut their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Finally, Citigroup cut their price objective on Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Down 1.6 %

The firm has a market capitalization of $48.81 billion, a price-to-earnings ratio of -58.31 and a beta of 0.91. The stock has a 50-day moving average price of $179.56 and a 200 day moving average price of $179.04.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm 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, equities analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 2,346 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the transaction, the executive now directly owns 102,007 shares of the company’s stock, valued at $20,735,982.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Christopher William Degnan sold 2,346 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $203.28, for a total value of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares of the company’s stock, valued at $20,735,982.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The disclosure for this sale can be found here. Insiders sold 180,555 shares of company stock valued at $36,868,487 over the last three months. 8.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $790,000. Sequoia Financial Advisors LLC boosted its holdings in shares of 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 acquiring an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Snowflake during the third quarter worth approximately $458,000. Glynn Capital Management LLC raised its stake in shares of Snowflake by 3.1% during the third 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 during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Snowflake by 55.9% during the fourth quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after purchasing an additional 105,937 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.