Snowflake (NYSE:SNOW) Sets New 12-Month Low at $117.45

Shares of Snowflake Inc. (NYSE:SNOW) reached a new 52-week low during trading on Friday . The company traded as low as $117.45 and last traded at $118.36, with a volume of 298402 shares trading hands. The stock had previously closed at $124.20.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. Scotiabank cut their price objective on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a research report on Monday, July 1st. Barclays lifted their target price on shares of Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a research report on Thursday, May 23rd. Wells Fargo & Company dropped their target price on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Finally, Loop Capital lowered their price objective on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $197.31.

Snowflake Trading Down 3.4 %

The stock has a market cap of $40.16 billion, a P/E ratio of -41.99 and a beta of 0.85. The company’s 50 day moving average price is $134.31 and its two-hundred day moving average price is $163.22.

Snowflake (NYSE:SNOW) last released 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). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the sale, the executive vice president now owns 733,773 shares in the company, valued at $104,914,863.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the sale, the executive vice president now owns 733,773 shares in the company, valued at $104,914,863.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Emily Ho sold 6,500 shares of Snowflake stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the sale, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 520,678 shares of company stock worth $64,962,300. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Snowflake by 56.0% during the fourth quarter. Blue Trust Inc. now owns 248 shares of the company’s stock worth $49,000 after buying an additional 89 shares during the period. UMB Bank n.a. boosted its stake in shares of Snowflake by 13.1% during the fourth quarter. UMB Bank n.a. now owns 2,900 shares of the company’s stock valued at $577,000 after purchasing an additional 335 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Snowflake by 8.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,169 shares of the company’s stock valued at $233,000 after purchasing an additional 87 shares during the period. Breakwater Capital Group bought a new stake in shares of Snowflake in the fourth quarter valued at about $354,000. Finally, Arizona State Retirement System raised its holdings in shares of Snowflake by 18.9% in the fourth quarter. Arizona State Retirement System now owns 87,735 shares of the company’s stock valued at $17,459,000 after acquiring an additional 13,938 shares in the last quarter. 65.10% of the stock is 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.