Snowflake (NYSE:SNOW) Trading 1.9% Higher

Shares of Snowflake Inc. (NYSE:SNOW) were up 1.9% on Tuesday . The stock traded as high as $152.08 and last traded at $150.06. Approximately 1,769,783 shares traded hands during trading, a decline of 73% from the average daily volume of 6,554,973 shares. The stock had previously closed at $147.21.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Needham & Company LLC decreased their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Truist Financial decreased their target price on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. KeyCorp assumed coverage on shares of Snowflake in a research report on Thursday, April 11th. They issued an “overweight” rating and a $185.00 target price on the stock. Wedbush upped their target price on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Price Performance

The firm has a market capitalization of $51.80 billion, a PE ratio of -60.79 and a beta of 0.91. The business’s 50-day moving average price is $172.95 and its 200-day moving average price is $179.15.

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

Insider Transactions at Snowflake

In related news, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the acquisition, the chief executive officer now directly owns 31,542 shares in the company, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the sale, the insider now directly owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,209 shares of company stock worth $34,291,592. Insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CENTRAL TRUST Co lifted its holdings in Snowflake by 37.0% in the first quarter. CENTRAL TRUST Co now owns 755 shares of the company’s stock valued at $122,000 after acquiring an additional 204 shares during the period. Alta Advisers Ltd lifted its holdings in Snowflake by 12.5% in the first quarter. Alta Advisers Ltd now owns 900 shares of the company’s stock valued at $145,000 after acquiring an additional 100 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in Snowflake by 24.5% in the first quarter. Newbridge Financial Services Group Inc. now owns 2,620 shares of the company’s stock valued at $423,000 after acquiring an additional 515 shares during the period. Hartford Financial Management Inc. acquired a new stake in Snowflake in the first quarter valued at $32,000. Finally, Round Rock Advisors LLC acquired a new stake in Snowflake in the first quarter valued at $731,000. Institutional investors and hedge funds 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.