Snowflake (NYSE:SNOW) Stock Price Up 3.6%

Snowflake Inc. (NYSE:SNOW) traded up 3.6% on Friday . The company traded as high as $160.29 and last traded at $158.03. 2,292,157 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 6,476,134 shares. The stock had previously closed at $152.50.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNOW shares. Raymond James upped their price target on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Needham & Company LLC dropped their price target on Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Bank of America decreased their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (down from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Stock Up 3.7 %

The company has a market cap of $52.84 billion, a price-to-earnings ratio of -62.01 and a beta of 0.91. The business has a fifty day simple moving average of $171.35 and a 200 day simple moving average of $178.97.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated 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 $121,053,288.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the sale, the chief executive officer now directly owns 180,143 shares in the company, valued at $40,555,593.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly 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. Over the last 90 days, insiders have sold 168,209 shares of company stock valued at $34,291,592. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new stake in Snowflake in the fourth quarter valued at approximately $25,000. Ulland Investment Advisors LLC grew its stake in shares of Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after buying an additional 135 shares during the period. FinTrust Capital Advisors LLC increased its holdings in shares of Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Snowflake in the 1st quarter worth $31,000. Finally, Provence Wealth Management Group purchased a new stake in Snowflake during the third quarter valued at about $30,000. 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.