Snowflake (NYSE:SNOW) Stock Price Up 0.7%

Snowflake Inc. (NYSE:SNOW) shot up 0.7% during mid-day trading on Thursday . The company traded as high as $143.72 and last traded at $142.86. 3,290,913 shares were traded during mid-day trading, a decline of 61% from the average session volume of 8,338,478 shares. The stock had previously closed at $141.92.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNOW. Wedbush reissued a “neutral” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Wednesday, June 5th. Wells Fargo & Company dropped their price objective on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. BNP Paribas raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Thursday, May 2nd. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 target price on shares of Snowflake in a research note on Monday. Finally, Monness Crespi & Hardt upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Three equities 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.46.

Snowflake Trading Up 0.7 %

The company has a market capitalization of $47.83 billion, a P/E ratio of -51.02 and a beta of 0.85. The firm’s 50 day moving average price is $145.22 and its two-hundred day moving average price is $172.05.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results 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 net margin of 30.80% and a negative return on equity of 15.99%. The business had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Analysts anticipate that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of the company’s 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 completion of the sale, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 3,845 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the completion of the transaction, the chief accounting officer now owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Insiders have sold a total of 519,112 shares of company stock worth $64,932,073 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently modified their holdings of SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth approximately $25,000. LRI Investments LLC purchased a new stake in Snowflake during the first quarter valued at $29,000. FinTrust Capital Advisors LLC grew its holdings in 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 purchasing an additional 128 shares during the period. Riverview Trust Co bought a new position in shares of Snowflake in the first quarter worth about $31,000. Finally, M&R Capital Management Inc. lifted its position in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.