Snowflake (NYSE:SNOW) Stock Price Down 0.8%

Snowflake Inc. (NYSE:SNOW)’s share price was down 0.8% on Wednesday . The company traded as low as $110.65 and last traded at $110.77. 579,651 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 6,530,952 shares. The stock had previously closed at $111.63.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SNOW. Wedbush lowered their target price on Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. UBS Group dropped their price target on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Macquarie decreased their price objective on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Barclays dropped their target price on Snowflake from $191.00 to $146.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Snowflake Trading Down 0.7 %

The business’s fifty day moving average price is $122.40 and its 200 day moving average price is $140.42. The company has a market capitalization of $37.17 billion, a P/E ratio of -39.56 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter last year, the company posted ($0.52) EPS. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Insiders sold a total of 512,262 shares of company stock worth $63,340,261 over the last 90 days. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of the business. Comerica Bank raised its holdings in Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after buying an additional 4,296 shares during the period. Choreo LLC increased its holdings in Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after purchasing an additional 1,294 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Snowflake by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after purchasing an additional 43,062 shares during the period. Trexquant Investment LP lifted its holdings in shares of Snowflake by 266.3% in the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,633 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in shares of Snowflake during the first quarter worth about $244,000. 65.10% of the stock is currently owned by institutional investors.

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.