Snowflake (NYSE:SNOW) Shares Up 0.5%

Snowflake Inc. (NYSE:SNOW)’s stock price shot up 0.5% during trading on Friday . The company traded as high as $161.38 and last traded at $158.56. 1,091,915 shares were traded during mid-day trading, a decline of 83% from the average session volume of 6,339,686 shares. The stock had previously closed at $157.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SNOW shares. 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 report on Monday, March 4th. Raymond James upped their price objective on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Redburn Atlantic reaffirmed a “sell” rating and issued a $125.00 price target (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus lowered their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Stock Up 1.0 %

The company has a market cap of $53.24 billion, a price-to-earnings ratio of -62.20 and a beta of 0.90. The company has a fifty day simple moving average of $164.60 and a two-hundred day simple moving average of $178.82.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate 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 net margin of 29.79% and a negative return on equity of 13.79%. On average, research analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the transaction, the executive now owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the transaction, the executive now directly owns 354,954 shares in the company, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,458 shares of company stock valued at $33,785,640. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in SNOW. Norges Bank purchased a new stake in Snowflake during the 4th quarter worth $838,455,000. Vanguard Group Inc. grew its stake in shares of Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares in the last quarter. FMR LLC raised its holdings in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after buying an additional 1,496,235 shares during the period. Winslow Capital Management LLC acquired a new position in Snowflake during the 3rd quarter worth approximately $226,302,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Snowflake in the 1st quarter worth approximately $171,608,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.