Snowflake (NYSE:SNOW) Trading Up 1%

Snowflake Inc. (NYSE:SNOW)’s stock price was up 1% on Wednesday . The stock traded as high as $138.20 and last traded at $137.62. Approximately 1,443,034 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 6,550,344 shares. The stock had previously closed at $136.21.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SNOW shares. Wells Fargo & Company cut their price objective on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Loop Capital lowered their target price on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Piper Sandler lowered their target price on shares of Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Sanford C. Bernstein raised their target price on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer reissued an “outperform” rating and set a $220.00 target price on shares of Snowflake in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.31.

Snowflake Stock Performance

The stock has a market capitalization of $43.42 billion, a price-to-earnings ratio of -46.37 and a beta of 0.85. The company’s 50 day moving average is $140.78 and its 200 day moving average is $167.61.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. On average, equities research analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Emily Ho sold 6,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Emily Ho sold 6,500 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 848 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 533,460 shares of company stock worth $66,963,450. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently made changes to their positions in the company. Cigna Investments Inc. New grew its holdings in Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares during the last quarter. E&G Advisors LP grew its holdings in Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after acquiring an additional 51 shares during the last quarter. Commerce Bank grew its holdings in Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares during the last quarter. 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.