Snowflake (NYSE:SNOW) Trading Down 3.2%

Snowflake Inc. (NYSE:SNOW) traded down 3.2% during mid-day trading on Monday . The stock traded as low as $152.56 and last traded at $153.52. 1,780,683 shares were traded during mid-day trading, a decline of 74% from the average session volume of 6,727,193 shares. The stock had previously closed at $158.56.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and set a $205.00 price objective (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 price objective (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada cut their price objective on Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Trading Down 1.1 %

The firm has a market capitalization of $50.22 billion, a PE ratio of -58.93 and a beta of 0.91. The business’s 50 day simple moving average is $182.44 and its two-hundred day simple moving average is $179.47.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during 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 13.79%. As a group, equities research analysts anticipate that Snowflake Inc. will post -1.92 earnings per share for the current year.

Insider Activity

In other news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The disclosure for this purchase can be found here. Insiders sold a total of 179,055 shares of company stock valued at $36,633,917 in the last 90 days. Company insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Accent Capital Management LLC bought a new position in Snowflake in the 4th quarter worth $25,000. Mango Five Family Inc. bought a new position in Snowflake in the 4th quarter worth $26,000. Ulland Investment Advisors LLC boosted its holdings in Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after buying an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. Finally, Provence Wealth Management Group bought a new position in Snowflake in the 3rd quarter worth $30,000. Institutional investors own 65.10% of the company’s stock.

About Snowflake

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.