Snowflake (NYSE:SNOW) Director Teresa Briggs Sells 343 Shares

Snowflake Inc. (NYSE:SNOW) Director Teresa Briggs sold 343 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $255.11, for a total value of $87,502.73. Following the transaction, the director owned 5,060 shares of the company’s stock, valued at $1,290,856.60. This trade represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Teresa Briggs also recently made the following trade(s):

• On Thursday, July 2nd, Teresa Briggs sold 344 shares of Snowflake stock. The shares were sold at an average price of $254.64, for a total value of $87,596.16.

Snowflake Stock Performance

NYSE:SNOW opened at $265.91 on Tuesday. The company has a market capitalization of $92.16 billion, a PE ratio of -75.41 and a beta of 1.35. The company has a 50 day simple moving average of $205.08 and a two-hundred day simple moving average of $190.58. 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 fifty-two week low of $118.30 and a fifty-two week high of $284.99.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. Research analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current year.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently made changes to their positions in the stock. Diligent Investors LLC grew its stake in shares of Snowflake by 0.9% in the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock valued at $1,036,000 after buying an additional 40 shares during the period. Wolff Wiese Magana LLC raised its stake in Snowflake by 10.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock worth $120,000 after buying an additional 50 shares during the period. HHM Wealth Advisors LLC boosted its holdings in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares in the last quarter. United Asset Strategies Inc. boosted its holdings in Snowflake by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after acquiring an additional 50 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Evercore set a $200.00 price objective on Snowflake in a research report on Tuesday, April 14th. Truist Financial upped their target price on Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Canaccord Genuity Group lifted their target price on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, TD Cowen reissued a “buy” rating and issued a $300.00 price target on shares of Snowflake in a research note on Wednesday, June 3rd. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $293.53.

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.