Snowflake (NYSE:SNOW) Shares Up 0.3%

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s stock price rose 0.3% during trading on Wednesday . The stock traded as high as $158.88 and last traded at $155.71. Approximately 936,929 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 6,415,875 shares. The stock had previously closed at $155.20.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. Bank of America cut their price target on shares of Snowflake from $265.00 to $212.00 and set a "neutral" rating for the company in a report on Thursday, February 29th. Evercore ISI dropped their price target on Snowflake from $250.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Mizuho reiterated a "buy" rating and issued a $205.00 price objective (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Macquarie upgraded Snowflake from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $182.00 to $205.00 in a report on Thursday, February 29th. Finally, StockNews.com raised Snowflake from a "sell" rating to a "hold" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $202.00.

Snowflake Price Performance

The firm has a 50-day moving average of $165.95 and a 200 day moving average of $178.97. The stock has a market capitalization of $52.14 billion, a price-to-earnings ratio of -61.18 and a beta of 0.91.

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

Insider Transactions at Snowflake

In related news, SVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now directly owns 736,567 shares in the company, valued at approximately $162,044,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the senior vice president now owns 736,567 shares in the company, valued at approximately $162,044,740. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company's stock, valued at $13,915,695.36. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock worth $34,291,592 in the last ninety days. Insiders own 8.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Snowflake during the fourth quarter worth $838,455,000. Vanguard Group Inc. grew its position 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 purchasing an additional 1,559,830 shares in the last quarter. FMR LLC increased its holdings in shares of Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company's stock worth $940,160,000 after purchasing an additional 1,496,235 shares during the period. Winslow Capital Management LLC bought a new position in shares of Snowflake during the third quarter worth approximately $226,302,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Snowflake in the first quarter valued at approximately $171,608,000. 65.10% of the stock is owned by institutional investors.

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.