Snowflake (NYSE:SNOW) Stock Price Down 1%

Snowflake Inc. (NYSE:SNOW) dropped 1% during mid-day trading on Tuesday . The stock traded as low as $149.11 and last traded at $150.40. Approximately 1,488,766 shares changed hands during trading, a decline of 78% from the average daily volume of 6,713,499 shares. The stock had previously closed at $151.98.

Wall Street Analyst Weigh In

SNOW has been the topic of several research reports. Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. Piper Sandler restated an “overweight” rating and set a $250.00 price objective on shares of Snowflake in a research note on Tuesday, February 27th. Raymond James upped their price objective on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. HSBC restated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Finally, Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Stock Down 1.0 %

The stock has a market capitalization of $49.73 billion, a price-to-earnings ratio of -58.35 and a beta of 0.91. The business has a 50-day simple moving average of $181.05 and a two-hundred day simple moving average of $179.26.

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

Insider Activity

In other news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the sale, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,555 shares of company stock worth $36,868,487. Insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares in the last quarter. BlackRock Inc. increased its stake in shares of Snowflake by 3.1% in the first quarter. BlackRock Inc. now owns 13,414,226 shares of the company’s stock worth $2,069,681,000 after acquiring an additional 400,044 shares during the last quarter. FMR LLC increased its stake in shares of Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. State Street Corp increased its stake in shares of Snowflake by 3.0% in the first quarter. State Street Corp now owns 5,782,936 shares of the company’s stock worth $892,229,000 after acquiring an additional 165,875 shares during the last quarter. Finally, Sands Capital Management LLC increased its stake in shares of Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after acquiring an additional 610,970 shares during the last quarter. Hedge funds and other 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.