Snowflake (NYSE:SNOW) Shares Up 0.5%

Snowflake Inc. (NYSE:SNOW)’s share price shot up 0.5% during mid-day trading on Monday . The stock traded as high as $161.44 and last traded at $160.14. 846,171 shares were traded during mid-day trading, a decline of 87% from the average session volume of 6,306,409 shares. The stock had previously closed at $159.32.

Wall Street Analyst Weigh In

Several research firms have commented on SNOW. Needham & Company LLC cut their target price on Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Macquarie upgraded Snowflake from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $182.00 to $205.00 in a report on Thursday, February 29th. Mizuho reiterated a “buy” rating and set a $205.00 target price (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. Piper Sandler restated an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a research note on Tuesday, February 27th. Finally, KeyCorp assumed coverage on Snowflake in a research note on Thursday, April 11th. They set an “overweight” rating and a $185.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $202.77.

Snowflake Stock Up 2.7 %

The business’s 50-day simple moving average is $161.85 and its two-hundred day simple moving average is $179.19. The stock has a market cap of $54.71 billion, a P/E ratio of -64.20 and a beta of 0.90.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Analysts anticipate that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total value of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares in the company, valued at approximately $40,555,593.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now owns 726,567 shares in the company, valued at approximately $167,110,410. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frank Slootman sold 86,078 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at approximately $40,555,593.59. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock valued at $31,585,640 over the last quarter. 8.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Snowflake by 6.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company’s stock valued at $8,152,000 after acquiring an additional 3,124 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in 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 last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Snowflake by 139.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company’s stock valued at $736,000 after buying an additional 2,809 shares during the period. Telemus Capital LLC boosted its stake in shares of Snowflake by 13.2% in the 3rd quarter. Telemus Capital LLC now owns 2,379 shares of the company’s stock worth $363,000 after buying an additional 278 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Snowflake by 3.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,244 shares of the company’s stock worth $9,051,000 after purchasing an additional 2,232 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.