Snowflake (NYSE:SNOW) Shares Up 1.2%

Snowflake Inc. (NYSE:SNOW)’s share price shot up 1.2% during trading on Wednesday . The stock traded as high as $131.82 and last traded at $130.45. 1,124,541 shares changed hands during trading, a decline of 82% from the average session volume of 6,412,191 shares. The stock had previously closed at $128.88.

Wall Street Analyst Weigh In

Several brokerages have commented on SNOW. Loop Capital lowered their price objective on Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Piper Sandler lowered their price objective on Snowflake from $240.00 to $165.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. raised their price objective on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Stifel Nicolaus lowered their price objective on Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, Wedbush restated a “neutral” rating and set a $210.00 price target on shares of Snowflake in a report on Wednesday, June 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Snowflake Stock Performance

The stock has a fifty day moving average of $134.91 and a 200 day moving average of $163.49. The company has a market capitalization of $43.65 billion, a PE ratio of -46.57 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (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 during the quarter, compared to the consensus estimate of $786.95 million. As a group, equities analysts predict that Snowflake Inc. will post -2.28 EPS for the current year.

Insiders Place Their Bets

In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of Snowflake stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total value of $57,743,980.80. Following the sale, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $121,247.04. Following the transaction, the director now 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 accessible through the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the transaction, the executive vice president now directly owns 494,942 shares in the company, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Insiders have sold a total of 520,678 shares of company stock valued at $64,962,300 in the last quarter. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently bought and sold shares of the business. Accent Capital Management LLC bought a new position in Snowflake in the 4th quarter valued at $25,000. LRI Investments LLC grew its position in 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 during the last quarter. Riverview Trust Co bought a new position in Snowflake in the 1st quarter valued at $31,000. Hartford Financial Management Inc. bought a new position in Snowflake in the 1st quarter valued at $32,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Snowflake in the 1st quarter worth $32,000. 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.