Snowflake (NYSE:SNOW) Trading Up 1.5%

Shares of Snowflake Inc. (NYSE:SNOW) rose 1.5% during trading on Thursday . The stock traded as high as $113.63 and last traded at $112.50. Approximately 732,477 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 6,650,347 shares. The stock had previously closed at $110.80.

Analyst Ratings Changes

SNOW has been the topic of several analyst reports. Oppenheimer reissued an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a report on Thursday, May 23rd. Citigroup reduced their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Wells Fargo & Company lowered their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $176.03.

Snowflake Price Performance

The firm has a market capitalization of $37.49 billion, a P/E ratio of -40.18 and a beta of 0.83. The firm’s 50 day moving average is $127.55 and its two-hundred day moving average is $147.74.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.52) EPS. Analysts anticipate that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares in the company, valued at $86,252,760. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser bought 76,200 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the acquisition, the director now directly owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The disclosure for this purchase can be found here. In the last three months, insiders sold 512,678 shares of company stock worth $63,434,135. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC acquired a new stake in shares of Snowflake during the 4th quarter worth $25,000. LRI Investments LLC grew its stake in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the second quarter valued at approximately $27,000. Riverview Trust Co acquired a new stake in Snowflake in the first quarter valued at about $31,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of Snowflake during the 1st quarter valued at approximately $32,000. 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.