Snowflake Inc. (NYSE:SNOW) CAO Sells $501,349.55 in Stock

Snowflake Inc. (NYSE:SNOW) CAO Emily Ho sold 3,845 shares of Snowflake stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Emily Ho also recently made the following trade(s):

• On Friday, May 24th, Emily Ho sold 6,500 shares of Snowflake stock. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00.

Snowflake Stock Up 3.7 %

Shares of SNOW stock traded up $4.73 during trading hours on Thursday, hitting $133.86. 8,468,358 shares of the company’s stock were exchanged, compared to its average volume of 6,626,395. The firm has a market cap of $44.82 billion, a P/E ratio of -47.88 and a beta of 0.85. The firm has a 50 day moving average of $146.23 and a two-hundred day moving average of $174.05. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72.

Snowflake (NYSE:SNOW) last announced 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 business had revenue of $828.71 million for 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%. On average, equities analysts forecast that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays lifted their price objective on Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, May 23rd. Redburn Atlantic restated a “sell” rating and issued a $125.00 price objective (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Scotiabank decreased their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a report on Thursday, May 23rd. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective (down from $230.00) on shares of Snowflake in a report on Thursday, February 29th. Finally, Canaccord Genuity Group reduced their target price on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $199.03.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after purchasing an additional 297,428 shares during the last quarter. Jennison Associates LLC raised its stake in Snowflake by 3.7% in 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 during the last quarter. Sands Capital Management LLC raised its stake in Snowflake by 12.6% in 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 during the last quarter. Norges Bank acquired a new position in Snowflake in the 4th quarter valued at $838,455,000. Finally, WCM Investment Management LLC grew its holdings in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after buying an additional 11,677 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.