Snowflake (NYSE:SNOW) Stock Price Up 1.9%

Snowflake Inc. (NYSE:SNOW) shares rose 1.9% on Tuesday . The stock traded as high as $152.08 and last traded at $150.06. Approximately 1,769,783 shares were traded during trading, a decline of 73% from the average daily volume of 6,554,973 shares. The stock had previously closed at $147.21.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Raymond James lifted their price objective on shares of Snowflake from $190.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Finally, Citigroup reduced their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Snowflake Stock Performance

The company has a market cap of $50.71 billion, a P/E ratio of -58.85 and a beta of 0.91. The firm has a 50 day moving average price of $176.10 and a two-hundred day moving average price of $179.38.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. On average, sell-side analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $210.00, for a total value of $2,100,000.00. Following the completion of the transaction, the senior vice president now owns 746,567 shares in the company, valued at $156,779,070. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $210.00, for a total transaction of $2,100,000.00. Following the sale, the senior vice president now directly owns 746,567 shares of the company’s stock, valued at $156,779,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares in the company, valued at $13,915,695.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,209 shares of company stock worth $36,391,592. Insiders own 8.30% of the company’s stock.

Institutional Trading of Snowflake

A number of large investors have recently added to or reduced their stakes in SNOW. Accent Capital Management LLC bought a new position in shares of Snowflake during the 4th quarter valued at approximately $25,000. Ulland Investment Advisors LLC lifted its holdings in shares of Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after buying an additional 135 shares during the period. FinTrust Capital Advisors LLC lifted its holdings in shares of Snowflake by 193.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares during the period. Riverview Trust Co bought a new position in shares of Snowflake in the 1st quarter worth $31,000. Finally, Provence Wealth Management Group bought a new position in shares of Snowflake in the 3rd quarter worth $30,000. 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.