Insider Selling: Snowflake (NYSE:SNOW) Director Sells $12,116,095.98 in Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 46,978 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $257.91, for a total value of $12,116,095.98. Following the sale, the director directly owned 415,120 shares of the company’s stock, valued at $107,063,599.20. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snowflake Trading Down 0.5%

Snowflake stock traded down $1.40 during mid-day trading on Wednesday, hitting $261.34. The company’s stock had a trading volume of 4,707,413 shares, compared to its average volume of 6,437,170. The company has a 50 day moving average of $207.53 and a 200-day moving average of $190.90. The stock has a market cap of $90.58 billion, a PE ratio of -74.24 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business’s revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. On average, research analysts anticipate that Snowflake Inc. will post -1.84 EPS for the current year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake is expanding in Europe, including a new French headquarters in Paris, which supports customer growth and deepens its international footprint. Snowflake Inc. (SNOW): A Top AI Stock on Wall Street’s Radar, Expanding in Europe
• Positive Sentiment: Recent coverage says Snowflake’s AI Data Cloud is gaining traction, with new products, customer wins, and partnerships supporting management’s growth targets. Snowflake’s AI Data Cloud Gains Traction: More Upside Ahead?
• Positive Sentiment: Analysts continue to highlight Snowflake as an AI beneficiary, with reports calling its valuation attractive relative to future growth potential. Snowflake (SNOW) Stock Could Be 12% Undervalued After Fresh AI Expansion News
• Neutral Sentiment: Snowflake is seeing more investor attention and trading activity, which can add momentum but does not by itself change fundamentals. Snowflake Inc. (SNOW) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Management and shareholders are also focusing on governance changes, with a nonbinding vote on majority voting drawing attention to board accountability. Snowflake (SNOW) Governance Vote Puts Its AI Valuation Story Under The Spotlight
• Negative Sentiment: Recent insider selling by an EVP and a director may create some caution, even though the sales were made under pre-arranged trading plans. Insider Selling: Snowflake (NYSE:SNOW) Director Sells 343 Shares

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Canaccord Genuity Group raised their target price on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Truist Financial boosted their price target on Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, June 5th. Wells Fargo & Company increased their price objective on Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings cut Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $293.53.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. bought a new position in Snowflake in the fourth quarter worth approximately $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter valued at $29,000. GoalVest Advisory LLC increased its holdings in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares during the period. Basecamp Wealth Advisors LLC raised its position in shares of Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after acquiring an additional 118 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its position in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.