Snowflake (NYSE:SNOW) Director Sells $12,116,095.98 in Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 46,978 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $257.91, for a total transaction of $12,116,095.98. Following the sale, the director directly owned 415,120 shares of the company’s stock, valued at approximately $107,063,599.20. The trade was a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snowflake Stock Down 0.5%

Shares of Snowflake stock traded down $1.40 on Wednesday, reaching $261.34. The stock had a trading volume of 4,707,413 shares, compared to its average volume of 6,437,170. The company has a 50 day moving average price of $207.53 and a 200 day moving average price of $190.90. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The stock has a market capitalization of $90.58 billion, a P/E ratio of -74.24 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the firm earned $0.24 earnings per share. Snowflake’s revenue was up 33.5% compared to the same quarter last year. As a group, equities research analysts forecast that Snowflake Inc. will post -1.84 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNOW. Barclays boosted their target price on Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. DA Davidson boosted their price target on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. UBS Group restated a “buy” rating on shares of Snowflake in a report on Monday, June 22nd. Evercore set a $200.00 price objective on shares of Snowflake in a research report on Tuesday, April 14th. Finally, Canaccord Genuity Group lifted their target price on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $293.53.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Snowflake in the fourth quarter valued at about $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake in the fourth quarter worth about $29,000. GoalVest Advisory LLC lifted its holdings in shares of Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the period. Physician Wealth Advisors Inc. lifted its holdings in shares of Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the period. Finally, MV Capital Management Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake is expanding in Europe, including a new French headquarters in Paris, which supports customer growth and deepens its international footprint. Snowflake Inc. (SNOW): A Top AI Stock on Wall Street’s Radar, Expanding in Europe
• Positive Sentiment: Recent coverage says Snowflake’s AI Data Cloud is gaining traction, with new products, customer wins, and partnerships supporting management’s growth targets. Snowflake’s AI Data Cloud Gains Traction: More Upside Ahead?
• Positive Sentiment: Analysts continue to highlight Snowflake as an AI beneficiary, with reports calling its valuation attractive relative to future growth potential. Snowflake (SNOW) Stock Could Be 12% Undervalued After Fresh AI Expansion News
• Neutral Sentiment: Snowflake is seeing more investor attention and trading activity, which can add momentum but does not by itself change fundamentals. Snowflake Inc. (SNOW) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Management and shareholders are also focusing on governance changes, with a nonbinding vote on majority voting drawing attention to board accountability. Snowflake (SNOW) Governance Vote Puts Its AI Valuation Story Under The Spotlight
• Negative Sentiment: Recent insider selling by an EVP and a director may create some caution, even though the sales were made under pre-arranged trading plans. Insider Selling: Snowflake (NYSE:SNOW) Director Sells 343 Shares

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.