Snowflake (NYSE:SNOW) Shares Down 0.2%

Snowflake Inc. (NYSE:SNOW) fell 0.2% on Wednesday . The stock traded as low as $157.76 and last traded at $157.78. 1,069,386 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 7,029,040 shares. The stock had previously closed at $158.02.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNOW. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Needham & Company LLC dropped their price target on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Raymond James raised their price target on shares of Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Mizuho reaffirmed a “buy” rating and issued a $205.00 price target (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Scotiabank increased their price objective on shares of Snowflake from $194.00 to $226.00 and gave the company a “sector outperform” rating in a research note on Thursday, November 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.50.

Snowflake Price Performance

The company has a market capitalization of $52.45 billion, a P/E ratio of -61.87 and a beta of 0.94. The stock’s 50 day moving average is $196.50 and its 200-day moving average is $179.56.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. On average, equities research analysts anticipate that Snowflake Inc. will post -1.92 EPS for the current year.

Insider Buying and Selling

In related news, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the transaction, the chief accounting officer now directly owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Snowflake news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares in the company, valued at $4,457,133.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frank Slootman sold 19,764 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.66, for a total transaction of $3,096,228.24. Following the completion of the sale, the chief executive officer now owns 233,297 shares in the company, valued at approximately $36,548,308.02. The disclosure for this sale can be found here. Insiders sold a total of 184,355 shares of company stock valued at $37,679,411 over the last three months. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighPoint Advisor Group LLC purchased a new stake in Snowflake in the fourth quarter worth about $337,000. Quadrature Capital Ltd purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $40,471,000. PNC Financial Services Group Inc. grew its holdings in shares of Snowflake by 20.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,587 shares of the company’s stock valued at $5,092,000 after buying an additional 4,428 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $8,955,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $25,000. 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.