Snowflake (NYSE:SNOW) Trading 1.9% Higher

Snowflake Inc. (NYSE:SNOW) traded up 1.9% during mid-day trading on Tuesday . The company traded as high as $152.08 and last traded at $150.06. 1,769,783 shares were traded during mid-day trading, a decline of 73% from the average session volume of 6,554,973 shares. The stock had previously closed at $147.21.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Monday. Barclays reduced their price objective on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Raymond James increased their price objective on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Royal Bank of Canada cut their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Finally, JMP Securities raised their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Stock Performance

The company’s fifty day moving average price is $172.95 and its 200-day moving average price is $179.15. The stock has a market cap of $51.80 billion, a P/E ratio of -60.79 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, topping 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 anticipate that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related 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 value of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was 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 in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,209 shares of company stock worth $34,291,592. 8.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new position in Snowflake during the 4th quarter valued at about $25,000. Ulland Investment Advisors LLC increased its position in 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 purchasing an additional 135 shares during the period. FinTrust Capital Advisors LLC increased its position in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares during the period. Riverview Trust Co purchased a new position in Snowflake during the 1st quarter valued at about $31,000. Finally, Provence Wealth Management Group purchased a new position in Snowflake during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors 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.