Snowflake (NYSE:SNOW) Stock Price Up 0.2%

Snowflake Inc. (NYSE:SNOW)’s stock price rose 0.2% during trading on Wednesday . The company traded as high as $142.79 and last traded at $142.15. Approximately 938,385 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 6,619,505 shares. The stock had previously closed at $141.92.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent analyst reports. Mizuho reduced their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Loop Capital reduced their price target on shares of Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Piper Sandler reiterated an “overweight” rating and set a $240.00 target price on shares of Snowflake in a research report on Wednesday, June 5th. KeyCorp upped their target price on shares of Snowflake from $185.00 to $200.00 and gave the stock an “overweight” 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 research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.46.

Snowflake Price Performance

The company’s 50-day moving average price is $145.46 and its 200-day moving average price is $172.25. The company has a market cap of $47.79 billion, a P/E ratio of -50.77 and a beta of 0.85.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. On average, equities research analysts predict that Snowflake Inc. will post -2.28 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 558 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now owns 63,222 shares in the company, valued at $8,112,014.82. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the sale, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The disclosure for this sale can be found here. Insiders sold a total of 519,112 shares of company stock worth $64,932,073 over the last quarter. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Vanguard Group Inc. increased its holdings in Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after buying an additional 297,428 shares during the period. Jennison Associates LLC increased its holdings in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after buying an additional 249,249 shares during the period. Sands Capital Management LLC increased its holdings in Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after buying an additional 610,970 shares during the period. Norges Bank bought a new position in Snowflake in the 4th quarter valued at about $838,455,000. Finally, WCM Investment Management LLC increased its holdings in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after buying an additional 11,677 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.