Snowflake (NYSE:SNOW) Stock Price Down 0.2%

Snowflake Inc. (NYSE:SNOW)’s stock price traded down 0.2% during trading on Monday . The stock traded as low as $144.60 and last traded at $145.09. 1,567,657 shares changed hands during trading, a decline of 76% from the average session volume of 6,588,967 shares. The stock had previously closed at $145.45.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNOW. Citigroup dropped their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Bank of America lowered their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Evercore ISI lowered their price objective on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, February 29th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Price Performance

The company’s 50-day simple moving average is $177.80 and its 200 day simple moving average is $179.41. The firm has a market cap of $49.38 billion, a P/E ratio of -56.90 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm 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%. Analysts anticipate that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,555 shares of company stock worth $36,868,487. 8.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of the business. Accent Capital Management LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $25,000. Ulland Investment Advisors LLC grew its position in Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 135 shares during the last quarter. Provence Wealth Management Group purchased a new stake in Snowflake during the 3rd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. grew its position in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its position in Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 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.