Snowflake (NYSE:SNOW) Trading 0.2% Higher

Snowflake Inc. (NYSE:SNOW)’s share price shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $125.80 and last traded at $125.10. 3,517,823 shares were traded during mid-day trading, a decline of 46% from the average session volume of 6,524,928 shares. The stock had previously closed at $124.80.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNOW. Macquarie lowered their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. UBS Group raised their target price on shares of Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. HSBC reiterated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Wells Fargo & Company lowered their price objective on Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a report on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.03.

Snowflake Trading Up 4.0 %

The firm has a market capitalization of $43.24 billion, a price-to-earnings ratio of -46.12 and a beta of 0.85. The firm’s 50-day moving average is $146.63 and its 200 day moving average is $174.37.

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

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser acquired 76,200 shares of the stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the transaction, the director now directly owns 1,632,225 shares of the company’s stock, valued at $213,968,375.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Michael L. Speiser acquired 76,200 shares of Snowflake stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the purchase, the director now owns 1,632,225 shares in the company, valued at approximately $213,968,375.25. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 3,455 shares of Snowflake stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $126.08, for a total transaction of $435,606.40. Following the transaction, the director now directly owns 221,016 shares of the company’s stock, valued at approximately $27,865,697.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,147 shares of company stock worth $6,686,742. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in the business. Accent Capital Management LLC bought a new stake in Snowflake in the fourth quarter worth approximately $25,000. LRI Investments LLC acquired a new position in shares of Snowflake during the 1st quarter valued at $29,000. Riverview Trust Co bought a new position in Snowflake during the first quarter worth $31,000. Hartford Financial Management Inc. acquired a new stake in Snowflake in the first quarter worth $32,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Snowflake in the first quarter valued at $32,000. 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.