Snowflake (NYSE:SNOW) Stock Price Down 0.6%

Shares of Snowflake Inc. (NYSE:SNOW) traded down 0.6% during mid-day trading on Friday . The stock traded as low as $128.63 and last traded at $128.84. 638,155 shares changed hands during trading, a decline of 90% from the average session volume of 6,446,749 shares. The stock had previously closed at $129.59.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNOW shares. JMP Securities reaffirmed a “market outperform” rating and set a $235.00 price target on shares of Snowflake in a report on Tuesday, June 4th. Wells Fargo & Company decreased their target price on Snowflake from $225.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Sanford C. Bernstein boosted their price objective on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $220.00 target price on shares of Snowflake in a 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $197.31.

Snowflake Stock Up 0.1 %

The company has a market capitalization of $43.44 billion, a P/E ratio of -46.01 and a beta of 0.85. The company’s fifty day moving average price is $137.61 and its 200 day moving average price is $165.55.

Snowflake (NYSE:SNOW) last released 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). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The company had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Research analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 546 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $129.32, for a total transaction of $70,608.72. Following the completion of the transaction, the executive vice president now directly owns 756,489 shares in the company, valued at $97,829,157.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 546 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total value of $70,608.72. Following the transaction, the executive vice president now owns 756,489 shares in the company, valued at $97,829,157.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction 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 have sold 533,460 shares of company stock worth $66,963,450 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Accent Capital Management LLC acquired a new position in shares of Snowflake in the fourth quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Snowflake in the 1st quarter valued at approximately $29,000. FinTrust Capital Advisors LLC raised its stake in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Snowflake during the first quarter worth $31,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of Snowflake in the first quarter worth $32,000. 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.