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

Key Points

• Michael L. Speiser, a director at Snowflake Inc., sold 50,338 shares of the company's stock for over $10 million, marking a 58.23% decrease in his position.
• Snowflake's stock traded near $208.39 with a market cap of $69.57 billion and a negative PE ratio of -49.50.
• Despite some negative financial indicators, analysts maintain a "Moderate Buy" rating with an average price target of $226.73, reflecting a strong interest in the company's growth potential.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Michael L. Speiser sold 50,338 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $10,505,037.22. Following the transaction, the director directly owned 36,116 shares of the company's stock, valued at approximately $7,537,048.04. This trade represents a 58.23% 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 Performance

SNOW stock traded up $3.37 during midday trading on Monday, reaching $208.39. The stock had a trading volume of 3,418,909 shares, compared to its average volume of 3,517,346. The stock has a market cap of $69.57 billion, a PE ratio of -49.50 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a fifty day simple moving average of $213.88 and a two-hundred day simple moving average of $182.94. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. As a group, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, June 5th. Robert W. Baird raised their price objective on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Cowen reaffirmed a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Scotiabank reissued an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $226.73.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake in the 2nd quarter valued at about $25,000. Avion Wealth boosted its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company's stock worth $25,000 after buying an additional 49 shares during the last quarter. Rossby Financial LCC boosted its holdings in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company's stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company's stock worth $31,000 after purchasing an additional 82 shares during the last quarter. Finally, LGT Financial Advisors LLC acquired a new position in shares of Snowflake during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

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.

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