Snowflake (NYSE:SNOW) Trading Up 0.2%

Snowflake Inc. (NYSE:SNOW)’s stock price shot up 0.2% during mid-day trading on Thursday . The company traded as high as $159.39 and last traded at $156.46. 804,685 shares traded hands during trading, a decline of 87% from the average session volume of 6,378,901 shares. The stock had previously closed at $156.14.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNOW shares. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Bank of America decreased their target price on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. Mizuho restated a “buy” rating and set a $205.00 price target (down from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Raymond James increased their price objective on Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Stock Performance

The stock has a market capitalization of $52.89 billion, a P/E ratio of -61.36 and a beta of 0.90. The stock has a 50-day moving average price of $165.95 and a two-hundred day moving average price of $178.97.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Equities analysts anticipate that Snowflake Inc. will post -1.9 earnings per share 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 on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the transaction, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s 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 completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders sold a total of 155,676 shares of company stock valued at $31,784,491 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new stake in Snowflake during the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC grew its holdings in shares of Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after acquiring an additional 128 shares during the period. Riverview Trust Co purchased a new stake in shares of Snowflake during the 1st quarter valued at about $31,000. Provence Wealth Management Group purchased a new stake in Snowflake during the third quarter valued at approximately $30,000. Finally, M&R Capital Management Inc. raised its holdings in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the period. 65.10% of the stock is owned by institutional investors.

About Snowflake

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.