Insider Selling: Snowflake (NYSE:SNOW) CAO Sells 1,658 Shares of Stock

Key Points

• Snowflake's CAO Emily Ho sold 1,658 shares of stock at an average price of $225.25, reducing her ownership to approximately 31,745 shares, a 4.96% decrease.
• The company's stock saw a 1.4% increase, trading at $224.64 with a market capitalization of $76.11 billion.
• Analysts have increased their price targets for Snowflake, with estimates now ranging from $250.00 to $276.00, suggesting strong potential for growth.

Snowflake Inc. (NYSE:SNOW - Get Free Report) CAO Emily Ho sold 1,658 shares of Snowflake stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the transaction, the chief accounting officer owned 31,745 shares in the company, valued at approximately $7,150,561.25. This represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Snowflake Stock Up 1.4%

NYSE SNOW traded up $3.04 during trading on Friday, hitting $224.64. The stock had a trading volume of 3,011,876 shares, compared to its average volume of 5,319,764. The company has a market capitalization of $76.11 billion, a PE ratio of -54.13 and a beta of 1.22. Snowflake Inc. has a 12 month low of $108.71 and a 12 month high of $249.99. The company's 50-day moving average price is $214.13 and its two-hundred day moving average price is $192.43. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake's quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their target price on Snowflake from $235.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Wedbush upped their target price on Snowflake from $230.00 to $250.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Oppenheimer lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Cantor Fitzgerald boosted their target price on shares of Snowflake from $242.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Finally, BTIG Research increased their price target on Snowflake from $235.00 to $276.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $255.53.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently modified their holdings of SNOW. Capital Advantage Inc. lifted its stake in Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock worth $987,000 after purchasing an additional 48 shares during the last quarter. Wedbush Securities Inc. lifted its position in Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company's stock valued at $832,000 after buying an additional 48 shares during the period. Avion Wealth lifted its position in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company's stock valued at $25,000 after buying an additional 49 shares during the period. Insigneo Advisory Services LLC grew its holdings in Snowflake by 1.3% in the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company's stock worth $896,000 after purchasing an additional 52 shares during the period. Finally, Advyzon Investment Management LLC grew its holdings in Snowflake by 3.8% in the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company's stock worth $340,000 after purchasing an additional 55 shares during the period. 65.10% of the stock is currently owned by institutional investors.

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.

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