Jeremy Burton Sells 20,789 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Jeremy Burton sold 20,789 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $200.00, for a total value of $4,157,800.00. Following the transaction, the director now directly owns 7,428 shares of the company's stock, valued at approximately $1,485,600. This trade represents a 73.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snowflake Stock Up 1.7%

Shares of NYSE:SNOW traded up $3.38 during trading on Friday, reaching $205.69. 7,073,445 shares of the stock traded hands, compared to its average volume of 6,465,363. The stock has a 50-day moving average of $163.63 and a two-hundred day moving average of $166.35. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $209.80. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $68.67 billion, a P/E ratio of -60.68 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company's quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the first quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $29,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Snowflake during the fourth quarter valued at approximately $31,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNOW. Truist Financial raised their price target on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley reissued an "equal weight" rating on shares of Snowflake in a report on Thursday, May 22nd. Needham & Company LLC lifted their target price on Snowflake from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company reissued an "overweight" rating and set a $225.00 price objective (up from $200.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Piper Sandler restated an "overweight" rating and set a $215.00 target price (up previously from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $217.33.

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.