Michael L. Speiser Sells 50,338 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $211.35, for a total value of $10,638,936.30. Following the completion of the transaction, the director now directly owns 37,796 shares of the company’s stock, valued at $7,988,184.60. This represents a 57.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snowflake Stock Down 0.0%

NYSE SNOW traded down $0.09 on Monday, reaching $210.75. The company had a trading volume of 3,542,128 shares, compared to its average volume of 6,345,392. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s fifty day moving average is $169.37 and its 200 day moving average is $169.42. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $214.83. The stock has a market capitalization of $70.36 billion, a P/E ratio of -62.17 and a beta of 1.21.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Snowflake by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after buying an additional 316,573 shares during the last quarter. Norges Bank bought a new stake in Snowflake during the fourth quarter worth $988,950,000. FMR LLC boosted its position in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. GQG Partners LLC bought a new position in Snowflake in the 4th quarter valued at $750,572,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Macquarie raised their price target on shares of Snowflake from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. Oppenheimer upped their target price on Snowflake from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial raised their price target on shares of Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $205.00 target price on shares of Snowflake in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $222.81.

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.