Snowflake (NYSE:SNOW) Stock Price Up 3.3%

Snowflake Inc. (NYSE:SNOW)’s stock price rose 3.3% during trading on Monday . The stock traded as high as $140.23 and last traded at $139.58. Approximately 3,252,607 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 6,611,630 shares. The stock had previously closed at $135.09.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Oppenheimer restated an “outperform” rating and set a $220.00 price target on shares of Snowflake in a research report on Thursday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. UBS Group upped their price target on shares of Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Finally, KeyCorp increased their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.46.

Snowflake Stock Up 4.6 %

The firm has a market cap of $47.32 billion, a PE ratio of -50.35 and a beta of 0.85. The company’s fifty day moving average price is $145.74 and its two-hundred day moving average price is $173.07.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current year.

Insider Activity

In related news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the sale, the executive vice president now owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snowflake news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold a total of 519,112 shares of company stock valued at $64,932,073 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Accent Capital Management LLC acquired a new position in Snowflake during the fourth quarter worth about $25,000. LRI Investments LLC acquired a new position in shares of Snowflake in the first quarter valued at approximately $29,000. FinTrust Capital Advisors LLC raised its position in shares of Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Snowflake in the first quarter valued at approximately $31,000. Finally, M&R Capital Management Inc. raised its position in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

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.