Snowflake (NYSE:SNOW) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research report released on Tuesday morning.

Other analysts have also issued research reports about the stock. Macquarie upgraded shares of Snowflake from a neutral rating to an outperform rating and lifted their price target for the stock from $182.00 to $205.00 in a research note on Thursday, February 29th. HSBC restated a reduce rating on shares of Snowflake in a research note on Thursday, February 29th. Raymond James lifted their price target on shares of Snowflake from $190.00 to $223.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Piper Sandler restated an overweight rating and issued a $250.00 price target on shares of Snowflake in a research note on Tuesday, February 27th. Finally, TD Cowen lifted their price target on shares of Snowflake from $215.00 to $230.00 and gave the stock an outperform rating in a research note on Monday, December 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Snowflake presently has a consensus rating of Moderate Buy and an average price target of $202.50.

Snowflake Stock Up 0.9 %

SNOW opened at $161.43 on Tuesday. The firm has a market capitalization of $53.16 billion, a P/E ratio of -63.31 and a beta of 0.94. The firm’s 50 day moving average is $195.43 and its 200-day moving average is $179.30. Snowflake has a 52-week low of $135.26 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. Equities analysts expect that Snowflake will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $225.13, for a total value of $19,378,740.14. Following the sale, the chief executive officer now directly owns 180,143 shares in the company, valued at $40,555,593.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snowflake news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at $4,457,133.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Insiders sold 184,355 shares of company stock valued at $37,679,411 over the last 90 days. 8.30% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in Snowflake by 8.2% during the 2nd quarter. California State Teachers Retirement System now owns 447,364 shares of the company’s stock worth $78,727,000 after buying an additional 34,051 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Snowflake during the 3rd quarter worth about $458,000. Glynn Capital Management LLC raised its holdings in Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock worth $28,786,000 after buying an additional 5,629 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Snowflake by 192.7% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 5,003 shares of the company’s stock worth $880,000 after buying an additional 3,294 shares during the period. Finally, Raymond James Trust N.A. raised its holdings in Snowflake by 104.3% during the 4th quarter. Raymond James Trust N.A. now owns 21,084 shares of the company’s stock worth $4,196,000 after buying an additional 10,762 shares during the period. Institutional investors and hedge funds 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.