Snowflake (NYSE:SNOW) Stock Price Down 1.2%

Snowflake Inc. (NYSE:SNOWGet Free Report) traded down 1.2% on Wednesday . The company traded as low as $152.61 and last traded at $154.34. 2,508,037 shares were traded during trading, a decline of 64% from the average session volume of 6,990,275 shares. The stock had previously closed at $156.19.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Royal Bank of Canada lowered their target price on Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Rosenblatt Securities lowered their target price on Snowflake from $190.00 to $185.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Piper Sandler reiterated an “overweight” rating and set a $250.00 target price on shares of Snowflake in a research note on Tuesday, February 27th. Finally, Mizuho reiterated a “buy” rating and set a $205.00 target price (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.50.

View Our Latest Stock Analysis on SNOW

Snowflake Stock Performance

The company has a market cap of $50.30 billion, a price-to-earnings ratio of -60.32 and a beta of 0.91. The company has a fifty day moving average of $193.04 and a two-hundred day moving average of $179.37.

Snowflake (NYSE:SNOWGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Equities analysts expect that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Snowflake news, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank Slootman sold 19,764 shares of Snowflake stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.66, for a total value of $3,096,228.24. Following the transaction, the chief executive officer now directly owns 233,297 shares in the company, valued at $36,548,308.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,355 shares of company stock valued at $37,679,411. 8.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. ST Germain D J Co. Inc. bought a new position in shares of Snowflake in the 1st quarter worth about $439,000. Modus Advisors LLC bought a new position in shares of Snowflake in the 1st quarter worth about $323,000. Newbridge Financial Services Group Inc. raised its position in shares of Snowflake by 21.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,105 shares of the company’s stock worth $419,000 after acquiring an additional 377 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Snowflake in the 4th quarter worth about $337,000. Finally, Quadrature Capital Ltd bought a new stake in Snowflake in the 4th quarter valued at about $40,471,000. 65.10% of the stock is owned by institutional investors.

About Snowflake

(Get Free Report)

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.

Further Reading

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