Snowflake (NYSE:SNOW) Stock Price Down 4.9%

Snowflake Inc. (NYSE:SNOW)’s share price was down 4.9% on Monday . The stock traded as low as $107.93 and last traded at $113.87. Approximately 2,171,503 shares changed hands during trading, a decline of 66% from the average daily volume of 6,434,028 shares. The stock had previously closed at $119.77.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Sanford C. Bernstein increased their target price on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Mizuho cut their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Oppenheimer reissued an “outperform” rating and set a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Robert W. Baird reduced their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, UBS Group raised their target price on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.31.

Snowflake Trading Up 0.2 %

The firm’s fifty day simple moving average is $131.99 and its two-hundred day simple moving average is $161.30. The company has a market capitalization of $38.53 billion, a price-to-earnings ratio of -43.25 and a beta of 0.85.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, analysts forecast that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 546 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total value of $70,608.72. Following the sale, the executive vice president now directly owns 756,489 shares of the company’s stock, valued at $97,829,157.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christian Kleinerman sold 546 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total transaction of $70,608.72. Following the transaction, the executive vice president now directly owns 756,489 shares of the company’s stock, valued at $97,829,157.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 6,500 shares of Snowflake stock in a transaction on Friday, May 24th. The stock was sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the completion of the sale, the chief accounting officer now owns 36,076 shares of the company’s stock, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. Insiders sold 520,678 shares of company stock worth $64,962,300 over the last 90 days. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of SNOW. Private Trust Co. NA grew its position in Snowflake by 188.6% in the 4th quarter. Private Trust Co. NA now owns 228 shares of the company’s stock valued at $45,000 after buying an additional 149 shares in the last quarter. Stratos Wealth Advisors LLC boosted its position in shares of Snowflake by 16.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 3,038 shares of the company’s stock valued at $605,000 after purchasing an additional 430 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Snowflake by 15.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,551 shares of the company’s stock valued at $1,105,000 after purchasing an additional 733 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Snowflake by 85.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 42,600 shares of the company’s stock valued at $8,477,000 after purchasing an additional 19,600 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its position in shares of Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

About Snowflake

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.