Snowflake (NYSE:SNOW) Trading 0.2% Higher

Snowflake Inc. (NYSE:SNOW - Get Free Report) rose 0.2% during mid-day trading on Friday . The company traded as high as $150.09 and last traded at $148.68. Approximately 1,075,955 shares were traded during trading, a decline of 84% from the average daily volume of 6,602,226 shares. The stock had previously closed at $148.41.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of research reports. Mizuho reissued a "buy" rating and set a $205.00 price target (down previously from $255.00) on shares of Snowflake in a report on Thursday, February 29th. UBS Group raised their price target on Snowflake from $185.00 to $225.00 and gave the stock a "neutral" rating in a report on Thursday, February 22nd. Redburn Atlantic reissued a "sell" rating and set a $125.00 price target (down previously from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. HSBC reissued a "reduce" rating on shares of Snowflake in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Snowflake from $200.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $202.00.

Snowflake Stock Performance

The stock has a market capitalization of $48.61 billion, a price-to-earnings ratio of -57.04 and a beta of 0.91. The company has a 50-day moving average of $177.80 and a 200-day moving average of $179.00.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the business's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benoit Dageville sold 8,515 shares of the business's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now owns 55,216 shares of the company's stock, valued at $8,627,500. The disclosure for this sale can be found here. In the last three months, insiders sold 180,555 shares of company stock valued at $36,868,487. Company insiders own 8.30% of the company's stock.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company's stock worth $4,176,755,000 after buying an additional 1,559,830 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Snowflake by 3.1% during the 1st quarter. BlackRock Inc. now owns 13,414,226 shares of the company's stock worth $2,069,681,000 after buying an additional 400,044 shares during the last quarter. FMR LLC increased its holdings in shares of Snowflake by 32.1% during the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company's stock worth $940,160,000 after buying an additional 1,496,235 shares during the last quarter. State Street Corp increased its holdings in Snowflake by 3.0% in the 1st quarter. State Street Corp now owns 5,782,936 shares of the company's stock valued at $892,229,000 after purchasing an additional 165,875 shares in the last quarter. Finally, Sands Capital Management LLC increased its holdings in Snowflake by 12.6% in the 4th quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company's stock valued at $1,083,238,000 after purchasing an additional 610,970 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.