Snowflake (NYSE:SNOW) Shares Up 0.5%

Snowflake Inc. (NYSE:SNOW - Get Free Report) shares rose 0.5% on Friday . The company traded as high as $161.38 and last traded at $158.56. Approximately 1,091,915 shares were traded during trading, a decline of 83% from the average daily volume of 6,339,686 shares. The stock had previously closed at $157.77.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Snowflake from $198.00 to $188.00 and set an "equal weight" rating on the stock in a report on Friday, March 1st. Needham & Company LLC dropped their price objective on Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Citigroup reduced their target price on Snowflake from $290.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 4th. Wedbush raised their price target on shares of Snowflake from $144.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Finally, Guggenheim raised shares of Snowflake from a "sell" rating to a "neutral" rating in a report on Friday, March 15th. Two equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.77.

Snowflake Stock Performance

The stock has a market cap of $53.24 billion, a price-to-earnings ratio of -62.20 and a beta of 0.90. The company's 50 day simple moving average is $164.60 and its two-hundred day simple moving average is $178.82.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $759.86 million. On average, equities research analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Benoit Dageville sold 689 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now directly owns 70,665 shares in the company, valued at approximately $11,406,744.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the sale, the chief executive officer now directly owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Insiders sold 168,458 shares of company stock valued at $33,785,640 over the last quarter. Insiders own 8.30% of the company's stock.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group increased its stake in Snowflake by 7.9% in the first quarter. Rehmann Capital Advisory Group now owns 1,655 shares of the company's stock valued at $267,000 after acquiring an additional 121 shares during the period. Chevy Chase Trust Holdings LLC lifted its position in shares of Snowflake by 116.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 384,190 shares of the company's stock worth $62,085,000 after buying an additional 206,589 shares during the period. Jennison Associates LLC boosted its stake in Snowflake by 3.7% in the 1st quarter. Jennison Associates LLC now owns 7,008,464 shares of the company's stock valued at $1,132,568,000 after buying an additional 249,249 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Snowflake by 164.6% in the first quarter. Daiwa Securities Group Inc. now owns 664,898 shares of the company's stock valued at $107,448,000 after acquiring an additional 413,600 shares during the period. Finally, Pittenger & Anderson Inc. raised its stake in Snowflake by 28.9% during the first quarter. Pittenger & Anderson Inc. now owns 3,603 shares of the company's stock worth $582,000 after acquiring an additional 808 shares in the last quarter. Institutional investors and hedge funds 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.

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