Snowflake (NYSE:SNOW) Director Sells $13,657,983.14 in Stock

Key Points

• Snowflake Director Michael Speiser sold 49,498 shares for about $13.66 million at an average price of $275.93, reducing his direct ownership by 67.79% to 23,516 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Snowflake’s latest reported quarter beat analyst estimates, with EPS of $0.62 versus $0.45 expected and revenue of $1.55 billion versus $1.48 billion; revenue rose 35.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with a consensus price target of $413.87; 36 analysts rate the stock Buy, five Hold, and one Sell.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Michael Speiser sold 49,498 shares of the firm's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $275.93, for a total transaction of $13,657,983.14. Following the transaction, the director directly owned 23,516 shares of the company's stock, valued at $6,488,769.88. The trade was a 67.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snowflake Price Performance

NYSE SNOW traded up $4.81 on Tuesday, reaching $295.95. The company had a trading volume of 3,819,282 shares, compared to its average volume of 6,342,430. The stock has a market capitalization of $104.41 billion, a PE ratio of -93.07 and a beta of 1.32. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. The firm's 50 day moving average price is $327.24 and its 200 day moving average price is $242.08.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business's revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, equities analysts predict that Snowflake Inc. will post -1.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNOW. DA Davidson increased their price target on Snowflake from $300.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Argus lifted their price objective on Snowflake from $300.00 to $450.00 and gave the stock a "buy" rating in a research note on Friday, September 4th. Barclays lifted their price objective on Snowflake from $332.00 to $384.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 3rd. Bank of America upped their price objective on Snowflake from $330.00 to $395.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, Royal Bank Of Canada boosted their target price on shares of Snowflake from $372.00 to $440.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. Thirty-six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $413.87.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of Snowflake by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock valued at $452,014,000 after purchasing an additional 544,960 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Snowflake by 76.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company's stock worth $176,736,000 after buying an additional 509,230 shares during the last quarter. Swiss National Bank lifted its position in Snowflake by 7.1% in the first quarter. Swiss National Bank now owns 944,600 shares of the company's stock worth $142,465,000 after buying an additional 62,600 shares during the last quarter. Aberdeen Group plc boosted its stake in Snowflake by 307.8% during the third quarter. Aberdeen Group plc now owns 801,738 shares of the company's stock worth $272,238,000 after buying an additional 605,116 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Snowflake by 134.5% during the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock worth $268,351,000 after buying an additional 453,342 shares during the period. 65.10% of the stock is owned by institutional investors.

About Snowflake

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake's platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

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