Insider Selling: Snowflake (NYSE:SNOW) Director Sells 50,338 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $221.16, for a total value of $11,132,752.08. Following the transaction, the director owned 31,916 shares of the company’s stock, valued at $7,058,542.56. This represents a 61.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Snowflake Stock Up 3.7%

SNOW traded up $7.96 during trading on Monday, hitting $224.67. The stock had a trading volume of 4,984,046 shares, compared to its average volume of 3,709,598. The company has a market capitalization of $76.88 billion, a PE ratio of -55.61 and a beta of 1.14. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The stock has a 50 day simple moving average of $242.16 and a two-hundred day simple moving average of $228.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNOW. Bank of America upped their price objective on shares of Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Morgan Stanley upped their price objective on shares of Snowflake from $272.00 to $299.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Scotiabank restated an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. Finally, Stifel Nicolaus lifted their price target on Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a 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 given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $275.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake in the second quarter worth about $25,000. Avion Wealth raised its stake in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the period. Grey Fox Wealth Advisors LLC bought a new stake in Snowflake in the 3rd quarter worth approximately $25,000. Tripletail Wealth Management LLC purchased a new stake in Snowflake during the third quarter valued at approximately $28,000. Finally, Rossby Financial LCC boosted its position in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.