Snowflake (NYSE:SNOW) Stock Price Up 0.6%

Shares of Snowflake Inc. (NYSE:SNOW) rose 0.6% during trading on Friday . The company traded as high as $117.30 and last traded at $115.95. Approximately 7,226,675 shares traded hands during trading, an increase of 9% from the average daily volume of 6,612,979 shares. The stock had previously closed at $115.21.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. Oppenheimer reissued an “outperform” rating and set a $220.00 target price on shares of Snowflake in a report on Thursday, May 23rd. Needham & Company LLC dropped their price objective on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a report on Thursday. DA Davidson lowered their price target on Snowflake from $230.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $119.00 to $121.00 in a report on Friday. Finally, Bank of America decreased their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.03.

Snowflake Trading Up 0.0 %

The stock’s fifty day moving average price is $129.96 and its two-hundred day moving average price is $155.31. The firm has a market capitalization of $38.59 billion, a price-to-earnings ratio of -41.41 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same period in the previous year, the business earned ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts anticipate that Snowflake Inc. will post -2.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $137.14, for a total transaction of $2,057,100.00. Following the sale, the executive vice president now owns 757,597 shares in the company, valued at $103,896,852.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Michael L. Speiser acquired 76,200 shares of the business’s stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the completion of the transaction, the director now directly owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $137.14, for a total transaction of $2,057,100.00. Following the transaction, the executive vice president now owns 757,597 shares in the company, valued at $103,896,852.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 527,678 shares of company stock worth $65,491,235. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Accent Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $25,000. LRI Investments LLC lifted its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake in the second quarter worth approximately $27,000. Riverview Trust Co acquired a new position in Snowflake in the first quarter worth approximately $31,000. Finally, Hartford Financial Management Inc. acquired a new stake in Snowflake in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds 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.