Snowflake (NYSE:SNOW) Shares Up 0.1%

Snowflake Inc. (NYSE:SNOW) was up 0.1% during trading on Tuesday . The company traded as high as $114.39 and last traded at $112.95. Approximately 656,135 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 6,542,505 shares. The stock had previously closed at $112.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Scotiabank decreased their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 22nd. UBS Group cut their target price on Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus dropped their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Mizuho decreased their price target on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $176.03.

Snowflake Price Performance

The business has a 50-day simple moving average of $122.92 and a 200-day simple moving average of $140.94. The firm has a market capitalization of $37.54 billion, a PE ratio of -40.34 and a beta of 0.83.

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

Insider Transactions at Snowflake

In other news, insider Benoit Dageville sold 1,295 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $125.19, for a total value of $162,121.05. Following the sale, the insider now directly owns 58,791 shares in the company, valued at $7,360,045.29. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Snowflake news, insider Benoit Dageville sold 1,295 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.19, for a total transaction of $162,121.05. Following the transaction, the insider now directly owns 58,791 shares in the company, valued at approximately $7,360,045.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,262 shares of company stock worth $63,340,261. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Accent Capital Management LLC purchased a new position in Snowflake during the 4th quarter worth $25,000. LRI Investments LLC boosted its position in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the 2nd quarter valued at $27,000. Riverview Trust Co bought a new stake in Snowflake during the 1st quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Snowflake during the 1st quarter valued at $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.