Snowflake (NYSE:SNOW) Trading Down 0.2%

Shares of Snowflake Inc. (NYSE:SNOW) dropped 0.2% during mid-day trading on Monday . The company traded as low as $128.53 and last traded at $128.73. Approximately 497,032 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 6,424,457 shares. The stock had previously closed at $129.00.

Analyst Ratings Changes

Several research analysts recently weighed in on SNOW shares. KeyCorp increased their target price on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Scotiabank lowered their target price on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 23rd. Piper Sandler reduced their price target on shares of Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company cut their target price 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. Finally, Stifel Nicolaus cut their price target on Snowflake from $220.00 to $200.00 and set a “buy” rating on the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $197.31.

Snowflake Stock Up 0.5 %

The firm has a 50-day moving average of $136.95 and a two-hundred day moving average of $164.63. The company has a market capitalization of $43.41 billion, a PE ratio of -45.97 and a beta of 0.85.

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

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the sale, the executive vice president now owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the sale, the executive now directly owns 354,954 shares in the company, valued at $55,571,598.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake 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 transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 533,460 shares of company stock valued at $66,963,450. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after acquiring an additional 297,428 shares in the last quarter. Jennison Associates LLC boosted its stake in Snowflake by 3.7% during the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares in the last quarter. Sands Capital Management LLC boosted its stake in Snowflake by 12.6% during the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. Norges Bank bought a new position in Snowflake during the 4th quarter valued at $838,455,000. Finally, WCM Investment Management LLC lifted its position in shares of Snowflake by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after acquiring an additional 11,677 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.