Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 19,111 Shares of Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Jeremy Burton sold 19,111 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $220.80, for a total value of $4,219,708.80. Following the sale, the director now directly owns 3,987 shares of the company's stock, valued at $880,329.60. The trade was a 82.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Jeremy Burton also recently made the following trade(s):

• On Friday, May 23rd, Jeremy Burton sold 20,789 shares of Snowflake stock. The stock was sold at an average price of $200.00, for a total value of $4,157,800.00.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $0.37 during trading on Thursday, reaching $221.89. The company had a trading volume of 5,083,497 shares, compared to its average volume of 6,124,116. The company has a fifty day moving average of $187.55 and a two-hundred day moving average of $172.77. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $225.68.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The firm's revenue was up 25.8% on a year-over-year basis. Equities analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Institutional Trading of Snowflake

A number of hedge funds have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Snowflake in the 1st quarter worth approximately $26,000. CVA Family Office LLC raised its position in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. bought a new stake in Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake during the fourth quarter valued at about $31,000. Institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNOW. Truist Financial raised their target price on Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Raymond James Financial restated an "outperform" rating and set a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. DA Davidson reissued a "buy" rating and set a $250.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Finally, Bank of America lifted their price target on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average price target of $225.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.