Snowflake (NYSE:SNOW) Trading 0.4% Higher

Snowflake Inc. (NYSE:SNOW)’s stock price traded up 0.4% during trading on Tuesday . The stock traded as high as $132.11 and last traded at $131.64. 518,145 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 6,479,722 shares. The stock had previously closed at $131.15.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Scotiabank decreased their price target on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 23rd. Barclays upped their price target on shares of Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a research note on Thursday, May 23rd. Wedbush restated a “neutral” rating and issued a $210.00 price target on shares of Snowflake in a research note on Wednesday, June 5th. Finally, StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.31.

Snowflake Stock Performance

The business’s fifty day moving average is $138.32 and its 200-day moving average is $165.80. The firm has a market cap of $43.39 billion, a P/E ratio of -45.62 and a beta of 0.85.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The business had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Analysts predict that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the transaction, the chief accounting officer now owns 36,076 shares in the company, valued at approximately $5,712,995.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Snowflake news, Director Teresa Briggs sold 848 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $158.36, for a total transaction of $1,029,340.00. Following the sale, the chief accounting officer now directly owns 36,076 shares in the company, valued at approximately $5,712,995.36. The disclosure for this sale can be found here. Insiders sold a total of 533,460 shares of company stock worth $66,963,450 in the last quarter. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Institutional investors have recently bought and sold shares of the company. Choreo LLC boosted its position in Snowflake by 18.6% during the first quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after acquiring an additional 1,294 shares during the last quarter. Trexquant Investment LP boosted its position in Snowflake by 266.3% during the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after acquiring an additional 7,633 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Snowflake during the first quarter valued at $244,000. Congress Wealth Management LLC DE bought a new stake in Snowflake during the fourth quarter valued at $232,000. Finally, Riverview Trust Co bought a new stake in Snowflake during the first quarter valued at $31,000. 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.