Snowflake (NYSE:SNOW) Stock Price Down 0.3%

Snowflake Inc. (NYSE:SNOW)’s share price was down 0.3% during trading on Tuesday . The stock traded as low as $140.70 and last traded at $142.29. Approximately 2,276,103 shares changed hands during trading, a decline of 66% from the average daily volume of 6,629,891 shares. The stock had previously closed at $142.77.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SNOW shares. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 price objective on shares of Snowflake in a research report on Monday. Oppenheimer reissued an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a research report on Thursday, May 23rd. Bank of America reissued a “neutral” rating and set a $200.00 price objective on shares of Snowflake in a research report on Wednesday, June 12th. Robert W. Baird lowered their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Redburn Atlantic reissued a “sell” rating and set a $125.00 price objective (down previously from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.46.

Snowflake Stock Performance

The business’s fifty day simple moving average is $145.65 and its 200-day simple moving average is $172.66. The firm has a market capitalization of $47.58 billion, a PE ratio of -50.82 and a beta of 0.85.

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

Insider Activity

In related news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the completion of the sale, the executive vice president now directly owns 772,597 shares in the company, valued at $124,504,006.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Emily Ho sold 3,845 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total transaction of $501,349.55. Following the transaction, the chief accounting officer now owns 30,613 shares in the company, valued at $3,991,629.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 519,112 shares of company stock worth $64,932,073. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently made changes to their positions in the company. Trexquant Investment LP grew its stake in Snowflake by 266.3% in the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,633 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Snowflake in the first quarter valued at about $244,000. Congress Wealth Management LLC DE purchased a new position in Snowflake in the fourth quarter valued at about $232,000. Riverview Trust Co purchased a new position in Snowflake in the first quarter valued at about $31,000. Finally, Vanguard Group Inc. grew its stake in Snowflake by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares during the last quarter. Hedge funds and other institutional investors 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.