Snowflake (NYSE:SNOW) Trading Up 0.2%

Shares of Snowflake Inc. (NYSE:SNOW) traded up 0.2% during trading on Thursday . The stock traded as high as $159.39 and last traded at $156.46. 804,685 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 6,378,901 shares. The stock had previously closed at $156.14.

Analyst Ratings Changes

SNOW has been the topic of several research reports. Rosenblatt Securities raised Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Friday, April 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Redburn Atlantic restated a “sell” rating and set a $125.00 price target (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Finally, HSBC reiterated a “reduce” rating on shares of Snowflake in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.77.

Snowflake Stock Up 1.4 %

The company’s fifty day moving average price is $165.95 and its two-hundred day moving average price is $178.97. The firm has a market cap of $52.89 billion, a PE ratio of -61.36 and a beta of 0.90.

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

Insiders Place Their Bets

In related news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now owns 736,567 shares in the company, valued at $162,044,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the senior vice president now directly owns 736,567 shares of the company’s stock, valued at approximately $162,044,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,676 shares of company stock worth $31,784,491. 8.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in Snowflake by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock worth $8,152,000 after buying an additional 3,124 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its position in Snowflake by 13.4% during the third quarter. Chevy Chase Trust Holdings LLC now owns 142,456 shares of the company’s stock worth $21,763,000 after purchasing an additional 16,806 shares during the last quarter. Xponance Inc. raised its stake in Snowflake by 1.7% during the third quarter. Xponance Inc. now owns 44,375 shares of the company’s stock worth $6,779,000 after purchasing an additional 742 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Snowflake by 28.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company’s stock valued at $13,709,000 after buying an additional 19,745 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in Snowflake by 139.8% during the third quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock worth $736,000 after acquiring an additional 2,809 shares during the last quarter. 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.