Snowflake (NYSE:SNOW) Trading Up 0%

Snowflake Inc. (NYSE:SNOW)’s share price was up 0% during trading on Monday . The stock traded as high as $159.61 and last traded at $158.19. Approximately 883,391 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 6,459,199 shares. The stock had previously closed at $158.13.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SNOW shares. Evercore ISI cut their price objective on Snowflake from $250.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Stifel Nicolaus decreased their price objective on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. UBS Group upped their price objective on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. HSBC reaffirmed a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $250.00 target price on shares of Snowflake in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Price Performance

The stock has a 50 day moving average price of $169.91 and a 200-day moving average price of $179.16. The stock has a market capitalization of $52.90 billion, a price-to-earnings ratio of -62.04 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping 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, research analysts forecast that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Monday, April 15th. The stock was 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 in the company, valued at $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Frank Slootman sold 86,078 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the sale, the chief executive officer now owns 180,143 shares in the company, valued at approximately $40,555,593.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock worth $34,291,592 over the last quarter. 8.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently bought and sold shares of SNOW. Accent Capital Management LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $25,000. Ulland Investment Advisors LLC boosted its position in shares of Snowflake by 270.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after acquiring an additional 135 shares in the last quarter. Provence Wealth Management Group acquired a new position in shares of Snowflake during the 3rd quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its position in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the period. 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.