Snowflake (NYSE:SNOW) Stock Price Down 1.1% – Should You Sell?

Snowflake Inc. (NYSE:SNOW)’s share price dropped 1.1% during trading on Monday . The company traded as low as $211.91 and last traded at $215.4330. Approximately 5,252,102 shares changed hands during trading, a decline of 0% from the average daily volume of 5,260,393 shares. The stock had previously closed at $217.93.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. JMP Securities raised their price objective on Snowflake from $283.00 to $325.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 28th. Barclays increased their target price on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Stifel Nicolaus lifted their price target on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, December 4th. KeyCorp increased their price objective on shares of Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Robert W. Baird raised their target price on shares of Snowflake from $260.00 to $270.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $274.78.

Snowflake Stock Performance

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The company’s 50-day simple moving average is $250.24 and its 200-day simple moving average is $227.51. The stock has a market capitalization of $73.72 billion, a price-to-earnings ratio of -53.33 and a beta of 1.09.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business earned $0.20 earnings per share. Snowflake’s revenue was up 28.7% compared to the same quarter last year. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 1,993 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $223.31, for a total transaction of $445,056.83. Following the completion of the sale, the director directly owned 150,456 shares in the company, valued at $33,598,329.36. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the transaction, the director directly owned 32,756 shares of the company’s stock, valued at $7,555,171.40. This represents a 60.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 221,360 shares of company stock worth $53,391,315 over the last ninety days. Insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Large investors have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake during the second quarter worth approximately $3,900,134,000. Norges Bank acquired a new position in Snowflake in the second quarter valued at approximately $944,895,000. Winslow Capital Management LLC bought a new position in shares of Snowflake during the 2nd quarter worth approximately $725,667,000. AQR Capital Management LLC boosted its holdings in shares of Snowflake by 346.2% during the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after buying an additional 2,460,769 shares in the last quarter. Finally, Coatue Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $441,277,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.