Snowflake (NYSE:SNOW) Shares Up 1.1%

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s stock price rose 1.1% on Thursday . The stock traded as high as $150.90 and last traded at $150.43. Approximately 1,378,554 shares traded hands during trading, a decline of 79% from the average daily volume of 6,645,126 shares. The stock had previously closed at $148.80.

Wall Street Analyst Weigh In

A number of research firms have commented on SNOW. Citigroup reduced their price objective on Snowflake from $290.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, March 4th. Needham & Company LLC lowered their target price on Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Evercore ISI lowered their target price on Snowflake from $250.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, February 29th. Piper Sandler restated an "overweight" rating and set a $250.00 price objective on shares of Snowflake in a research note on Tuesday, February 27th. Finally, Rosenblatt Securities raised Snowflake from a "neutral" rating to a "buy" rating and set a $185.00 target price on the stock in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $202.00.

Snowflake Price Performance

The stock has a fifty day simple moving average of $179.56 and a 200-day simple moving average of $179.04. The company has a market capitalization of $49.61 billion, a price-to-earnings ratio of -58.22 and a beta of 0.91.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, equities analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity at Snowflake

In other news, EVP Grzegorz Czajkowski sold 683 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares of the company's stock, valued at approximately $13,915,695.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Christopher William Degnan sold 2,346 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $203.28, for a total transaction of $476,894.88. Following the completion of the sale, the executive now directly owns 102,007 shares in the company, valued at $20,735,982.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,555 shares of company stock valued at $36,868,487. Corporate insiders own 8.30% of the company's stock.

Institutional Trading of Snowflake

A number of large investors have recently bought and sold shares of SNOW. Accent Capital Management LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $25,000. Mango Five Family Inc. acquired a new position in Snowflake during the fourth quarter worth approximately $26,000. Ulland Investment Advisors LLC grew its stake in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company's stock worth $28,000 after buying an additional 135 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Snowflake by 333.3% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company's stock worth $29,000 after buying an additional 100 shares during the period. Finally, Provence Wealth Management Group purchased a new stake in Snowflake during the third quarter worth approximately $30,000. Institutional investors and hedge funds 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.