Snowflake (NYSE:SNOW) Stock Price Up 1.1%

Snowflake Inc. (NYSE:SNOW)’s share price traded up 1.1% during trading on Monday . The stock traded as high as $131.29 and last traded at $131.28. 738,802 shares changed hands during trading, a decline of 89% from the average session volume of 6,500,573 shares. The stock had previously closed at $129.85.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNOW. Robert W. Baird lowered their target price on Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Mizuho lowered their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Bank of America reissued a “neutral” rating and issued a $200.00 target price on shares of Snowflake in a report on Wednesday, June 12th. Barclays raised their price objective on Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Wednesday, June 5th. Three 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $197.31.

Snowflake Trading Up 1.0 %

The stock has a market capitalization of $43.91 billion, a P/E ratio of -47.09 and a beta of 0.85. The stock has a 50 day moving average of $140.23 and a 200-day moving average of $166.85.

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

Insider Transactions at Snowflake

In other news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the transaction, the director now owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. In the last three months, insiders sold 533,460 shares of company stock valued at $66,963,450. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Choreo LLC grew its stake in Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after purchasing an additional 1,294 shares during the last quarter. Trexquant Investment LP grew its stake in Snowflake by 266.3% during the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,633 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Snowflake during the 1st quarter valued at about $244,000. Congress Wealth Management LLC DE purchased a new stake in Snowflake during the 4th quarter valued at about $232,000. Finally, Riverview Trust Co purchased a new stake in Snowflake during the 1st quarter valued at about $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.