Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells 469,120 Shares of Stock

Snowflake Inc. (NYSE:SNOW) EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the transaction, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Snowflake Trading Up 3.7 %

Shares of SNOW stock traded up $4.73 during trading hours on Thursday, reaching $133.86. 8,468,358 shares of the company’s stock were exchanged, compared to its average volume of 6,626,395. Snowflake Inc. has a 1 year low of $122.60 and a 1 year high of $237.72. The stock has a market cap of $44.82 billion, a PE ratio of -47.88 and a beta of 0.85. The stock’s fifty day moving average price is $146.23 and its two-hundred day moving average price is $174.05.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. On average, equities analysts expect that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SNOW shares. JPMorgan Chase & Co. increased their price objective on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a report on Thursday, May 23rd. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price on shares of Snowflake in a report on Wednesday, June 5th. Finally, Truist Financial cut their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.03.

Institutional Investors Weigh In On Snowflake

Large investors have recently bought and sold shares of the company. Accent Capital Management LLC acquired a new position in Snowflake in the fourth quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in shares of Snowflake during the 1st quarter worth approximately $29,000. Riverview Trust Co acquired a new position in shares of Snowflake during the 1st quarter worth approximately $31,000. Hartford Financial Management Inc. acquired a new position in shares of Snowflake during the 1st quarter worth approximately $32,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Snowflake during the 1st quarter worth approximately $32,000. 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.