Snowflake (NYSE:SNOW) Trading 1.7% Higher

Shares of Snowflake Inc. (NYSE:SNOW) traded up 1.7% on Thursday . The stock traded as high as $128.10 and last traded at $127.75. 1,092,195 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 6,457,676 shares. The stock had previously closed at $125.62.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. JPMorgan Chase & Co. increased their price target on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Sanford C. Bernstein increased their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. JMP Securities reiterated a “market outperform” rating and set a $235.00 price target on shares of Snowflake in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada reduced their price target on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.31.

Snowflake Trading Up 4.8 %

The stock has a market cap of $44.06 billion, a P/E ratio of -45.62 and a beta of 0.85. The stock’s fifty day moving average price is $138.32 and its 200 day moving average price is $165.80.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS 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 the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.28 earnings per share for the current year.

Insider Transactions at Snowflake

In other news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snowflake news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at approximately $607,236.06. The disclosure for this sale can be found here. Insiders sold a total of 533,460 shares of company stock valued at $66,963,450 in the last quarter. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Accent Capital Management LLC purchased a new stake in shares of Snowflake during the 4th quarter valued at about $25,000. LRI Investments LLC purchased a new stake in shares of Snowflake during the 1st quarter valued at about $29,000. FinTrust Capital Advisors LLC increased its position in shares of Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Snowflake during the 1st quarter valued at about $31,000. Finally, Hartford Financial Management Inc. purchased a new stake in shares of Snowflake during the 1st quarter valued at about $32,000. 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.