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

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Michael L. Speiser sold 50,338 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $211.35, for a total transaction of $10,638,936.30. Following the transaction, the director now owns 37,796 shares in the company, valued at $7,988,184.60. This represents a 57.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Snowflake Price Performance

SNOW traded down $0.09 during trading on Monday, hitting $210.75. 3,542,128 shares of the stock traded hands, compared to its average volume of 6,345,392. The business has a 50 day moving average price of $169.37 and a 200 day moving average price of $169.42. The company has a market cap of $70.36 billion, a price-to-earnings ratio of -62.17 and a beta of 1.21. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $214.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data 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. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Norges Bank acquired a new position in Snowflake during the 4th quarter worth approximately $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake during the fourth quarter worth $750,572,000. Nuveen LLC bought a new stake in shares of Snowflake during the first quarter worth $555,847,000. FMR LLC lifted its stake in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock valued at $456,430,000 after acquiring an additional 2,460,769 shares during the last quarter. Institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research analyst reports. JMP Securities reiterated a "market outperform" rating and set a $245.00 price target on shares of Snowflake in a report on Wednesday, June 4th. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $205.00 price target on shares of Snowflake in a report on Monday, May 19th. Morgan Stanley reiterated an "equal weight" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group raised their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $222.81.

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.