Snowflake (NYSE:SNOW) Trading 0.1% Higher

Snowflake Inc. (NYSE:SNOW)’s share price shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $158.58 and last traded at $157.60. Approximately 694,507 shares changed hands during trading, a decline of 89% from the average session volume of 6,442,419 shares. The stock had previously closed at $157.44.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SNOW shares. Wedbush raised their price target on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Royal Bank of Canada reduced their price target on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Macquarie upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Stifel Nicolaus lowered their price target on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Barclays reduced their price objective on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Stock Performance

The company has a market cap of $51.87 billion, a price-to-earnings ratio of -61.80 and a beta of 0.91. The firm has a fifty day moving average price of $168.46 and a 200 day moving average price of $179.14.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the transaction, the executive now owns 98,172 shares in the company, valued at $19,638,326.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now directly owns 726,567 shares in the company, valued at $167,110,410. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $200.04, for a total value of $2,507,101.32. Following the sale, the executive now directly owns 98,172 shares in the company, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,209 shares of company stock worth $34,291,592. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in shares of Snowflake during the 4th quarter worth $790,000. Sequoia Financial Advisors LLC boosted its stake in shares of Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after purchasing an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Snowflake during the 3rd quarter valued at approximately $458,000. Glynn Capital Management LLC increased its position 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 purchasing an additional 5,629 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after purchasing an additional 105,937 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.