Snowflake (NYSE:SNOW) Trading Up 0.1%

Snowflake Inc. (NYSE:SNOW)’s share price was up 0.1% during mid-day trading on Tuesday . The stock traded as high as $158.58 and last traded at $157.60. Approximately 694,507 shares changed hands during trading, a decline of 89% from the average daily volume of 6,442,419 shares. The stock had previously closed at $157.44.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and increased their target price for the company from $182.00 to $205.00 in a research report on Thursday, February 29th. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Friday, April 5th. Wedbush boosted their target price on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada decreased their price target on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Trading Down 1.4 %

The company’s 50 day moving average is $168.46 and its 200-day moving average is $179.14. The company has a market capitalization of $51.87 billion, a P/E ratio of -61.80 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million during 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%. Analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 168,209 shares of company stock valued at $34,291,592. Insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors have recently made changes to their positions in the stock. Cigna Investments Inc. New increased its position in shares of Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares during the last quarter. E&G Advisors LP increased its position in Snowflake by 3.0% in the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares in the last quarter. Commerce Bank raised its stake in shares of Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after buying an additional 51 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after buying an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in shares of Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after acquiring an additional 53 shares during the period. 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.