Insider Selling: Snowflake (NYSE:SNOW) Director Sells $87,502.73 in Stock

Snowflake Inc. (NYSE:SNOW) Director Teresa Briggs sold 343 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $255.11, for a total transaction of $87,502.73. Following the completion of the sale, the director directly owned 5,060 shares of the company’s stock, valued at approximately $1,290,856.60. The trade was a 6.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Teresa Briggs also recently made the following trade(s):

• On Thursday, July 2nd, Teresa Briggs sold 344 shares of Snowflake stock. The stock was sold at an average price of $254.64, for a total transaction of $87,596.16.

Snowflake Trading Down 0.5%

Shares of Snowflake stock opened at $261.34 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99. The firm has a market capitalization of $90.58 billion, a PE ratio of -74.24 and a beta of 1.35. The firm’s 50-day moving average price is $209.87 and its 200 day moving average price is $191.18.

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

Key Stories Impacting 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

Hedge Funds Weigh In On Snowflake

Large investors have recently modified their holdings of the business. Brighton Jones LLC lifted its position in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after buying an additional 29,320 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after acquiring an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares during the period. Flow Traders U.S. LLC acquired a new stake in Snowflake in the 2nd quarter valued at approximately $221,000. Finally, The Manufacturers Life Insurance Company raised its position in Snowflake by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after purchasing an additional 1,521 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on shares of Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Weiss Ratings downgraded shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Benchmark boosted their target price on Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Citigroup increased their price target on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Bank of America boosted their price objective on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $293.53.

About Snowflake

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.