Snowflake (NYSE:SNOW) Director Michael Speiser Sells 50,338 Shares

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $221.16, for a total transaction of $11,132,752.08. Following the completion of the transaction, the director owned 31,916 shares in the company, valued at approximately $7,058,542.56. This trade represents a 61.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Snowflake Price Performance

NYSE SNOW traded up $7.96 on Monday, hitting $224.67. The company had a trading volume of 4,984,046 shares, compared to its average volume of 3,709,598. The company has a market capitalization of $76.88 billion, a PE ratio of -55.61 and a beta of 1.14. The company’s fifty day moving average price is $242.16 and its 200-day moving average price is $228.87. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on SNOW. DA Davidson reiterated a “buy” rating and set a $300.00 price objective on shares of Snowflake in a research note on Monday, December 1st. Monness Crespi & Hardt upped their price target on shares of Snowflake from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Robert W. Baird lifted their price target on Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Wells Fargo & Company upped their price objective on Snowflake from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $285.00 price target on shares of Snowflake in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.32.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of the business. Commons Capital LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $221,000. Park Avenue Securities LLC lifted its stake in Snowflake by 88.8% in the 4th quarter. Park Avenue Securities LLC now owns 26,139 shares of the company’s stock valued at $5,734,000 after purchasing an additional 12,293 shares during the last quarter. Coastline Trust Co lifted its holdings in Snowflake by 201.6% during the 4th quarter. Coastline Trust Co now owns 12,616 shares of the company’s stock worth $2,767,000 after buying an additional 8,433 shares during the period. GoalVest Advisory LLC raised its stake in Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after buying an additional 93 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Snowflake by 58.1% in the fourth quarter. GAMMA Investing LLC now owns 1,570 shares of the company’s stock worth $344,000 after purchasing an additional 577 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.