Snowflake (NYSE:SNOW) Director Sells $13,657,983.14 in Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 49,498 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $275.93, for a total transaction of $13,657,983.14. Following the completion of the sale, the director owned 23,516 shares of the company’s stock, valued at $6,488,769.88. This trade represents a 67.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snowflake Trading Up 1.7%

Shares of SNOW stock traded up $4.81 during trading hours on Tuesday, reaching $295.95. 3,819,282 shares of the stock were exchanged, compared to its average volume of 6,342,430. The firm has a market capitalization of $104.41 billion, a price-to-earnings ratio of -93.07 and a beta of 1.32. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The company’s 50-day moving average price is $327.24 and its 200-day moving average price is $242.08. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities analysts anticipate that Snowflake Inc. will post -1.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SNOW. OMERS ADMINISTRATION Corp increased its stake in shares of Snowflake by 4,284.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company’s stock valued at $105,013,000 after buying an additional 680,397 shares during the period. Aberdeen Group plc raised its holdings in shares of Snowflake by 307.8% in the third quarter. Aberdeen Group plc now owns 801,738 shares of the company’s stock valued at $272,238,000 after acquiring an additional 605,116 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after acquiring an additional 544,960 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Snowflake by 76.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock worth $176,736,000 after acquiring an additional 509,230 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Snowflake by 134.5% in the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company’s stock worth $268,351,000 after acquiring an additional 453,342 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Barclays boosted their target price on Snowflake from $332.00 to $384.00 and gave the company an “equal weight” rating in a research report on Thursday, September 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $450.00 price target on shares of Snowflake in a report on Monday, October 12th. Mizuho set a $425.00 price target on Snowflake in a report on Thursday, September 3rd. Evercore reissued an “outperform” rating and set a $430.00 price target on shares of Snowflake in a research note on Thursday, September 3rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Snowflake in a report on Tuesday, September 8th. Thirty-six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $413.87.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.