Snowflake (NYSE:SNOW) Shares Up 0.2%

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s stock price shot up 0.2% during trading on Thursday . The stock traded as high as $159.39 and last traded at $156.46. 804,685 shares changed hands during trading, a decline of 87% from the average session volume of 6,378,901 shares. The stock had previously closed at $156.14.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JMP Securities increased their price objective on Snowflake from $212.00 to $235.00 and gave the stock a "market outperform" rating in a report on Thursday, February 29th. Guggenheim raised Snowflake from a "sell" rating to a "neutral" rating in a report on Friday, March 15th. Needham & Company LLC decreased their price objective on Snowflake from $265.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Wedbush increased their price objective on Snowflake from $144.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Finally, Stifel Nicolaus decreased their price objective on Snowflake from $235.00 to $220.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $202.77.

Snowflake Stock Up 1.0 %

The company has a market capitalization of $52.73 billion, a price-to-earnings ratio of -61.87 and a beta of 0.90. The company has a 50-day moving average price of $165.95 and a 200-day moving average price of $178.97.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly 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 company had revenue of $774.70 million for 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%. Equities analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Insider Activity

In related news, insider Benoit Dageville sold 689 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the sale, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the transaction, the senior vice president now owns 736,567 shares of the company's stock, valued at approximately $162,044,740. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,676 shares of company stock valued at $31,784,491. 8.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in shares of Snowflake by 6.2% during the third quarter. Commonwealth Equity Services LLC now owns 53,359 shares of the company's stock worth $8,152,000 after buying an additional 3,124 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Snowflake by 13.4% during the third quarter. Chevy Chase Trust Holdings LLC now owns 142,456 shares of the company's stock worth $21,763,000 after buying an additional 16,806 shares in the last quarter. Xponance Inc. increased its holdings in shares of Snowflake by 1.7% during the third quarter. Xponance Inc. now owns 44,375 shares of the company's stock worth $6,779,000 after buying an additional 742 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Snowflake by 28.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 89,735 shares of the company's stock worth $13,709,000 after buying an additional 19,745 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Snowflake by 139.8% during the third quarter. Stratos Wealth Partners LTD. now owns 4,818 shares of the company's stock worth $736,000 after buying an additional 2,809 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

About Snowflake

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.