Snowflake (NYSE:SNOW) Stock Price Up 3.3%

Shares of Snowflake Inc. (NYSE:SNOW) were up 3.3% during trading on Monday . The company traded as high as $140.23 and last traded at $139.58. Approximately 3,252,607 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 6,611,630 shares. The stock had previously closed at $135.09.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SNOW shares. Barclays lifted their price objective on Snowflake from $188.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 23rd. Redburn Atlantic restated a “sell” rating and set a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Sanford C. Bernstein boosted their target price on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a research report on Thursday, May 23rd. JMP Securities restated a “market outperform” rating and set a $235.00 target price on shares of Snowflake in a research report on Tuesday, June 4th. Finally, Loop Capital decreased their target price on Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Three equities research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.46.

Snowflake Stock Performance

The firm has a market capitalization of $47.32 billion, a price-to-earnings ratio of -50.35 and a beta of 0.85. The business has a fifty day moving average of $145.74 and a two-hundred day moving average of $173.07.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts predict that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00. Following the transaction, the chief accounting officer now directly owns 36,076 shares of the company’s stock, valued at approximately $5,712,995.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Emily Ho sold 6,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $158.36, for a total value of $1,029,340.00. Following the sale, the chief accounting officer now directly owns 36,076 shares in the company, valued at $5,712,995.36. The disclosure for this sale can be found here. Insiders have sold a total of 519,112 shares of company stock valued at $64,932,073 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after purchasing an additional 108 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after buying an additional 43,062 shares during the last quarter. Cota Capital Management LLC bought a new stake in shares of Snowflake during the 1st quarter worth $980,000. Garde Capital Inc. lifted its position in shares of Snowflake by 148.6% during the 1st quarter. Garde Capital Inc. now owns 5,158 shares of the company’s stock worth $833,000 after buying an additional 3,083 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Snowflake by 76.5% during the 1st quarter. Cetera Advisors LLC now owns 28,831 shares of the company’s stock worth $4,659,000 after buying an additional 12,497 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.