Snowflake (NYSE:SNOW) Director Sells $87,596.16 in Stock

Snowflake Inc. (NYSE:SNOW) Director Teresa Briggs sold 344 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $254.64, for a total value of $87,596.16. Following the completion of the transaction, the director owned 5,403 shares in the company, valued at $1,375,819.92. The trade was a 5.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Monday, July 6th, Teresa Briggs sold 343 shares of Snowflake stock. The shares were sold at an average price of $255.11, for a total value of $87,502.73.

Snowflake Stock Down 0.5%

NYSE SNOW opened at $261.34 on Thursday. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The stock has a market cap of $90.58 billion, a PE ratio of -74.24 and a beta of 1.35. The stock’s 50 day moving average is $209.87 and its 200 day moving average is $191.18.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. Research analysts predict that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SNOW shares. KeyCorp set a $295.00 target price on Snowflake in a research report on Thursday, May 28th. Wells Fargo & Company raised their target price on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Citigroup upped their price target on shares of Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. lifted their price objective on shares of Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Mizuho upped their target price on shares of Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.53.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently made changes to their positions in SNOW. Kemnay Advisory Services Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $28,000. Greenline Wealth Management LLC purchased a new position in Snowflake during the 4th quarter valued at $29,000. GoalVest Advisory LLC boosted its holdings in Snowflake by 221.4% during 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. Physician Wealth Advisors Inc. increased its stake in Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the period. Finally, MV Capital Management Inc. bought a new stake in shares of Snowflake during the fourth quarter worth $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting 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

About Snowflake

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.