Snowflake (NYSE:SNOW) Shares Down 3.2%

Snowflake Inc. (NYSE:SNOW - Get Free Report) fell 3.2% during mid-day trading on Monday . The stock traded as low as $152.56 and last traded at $153.52. 1,780,683 shares were traded during mid-day trading, a decline of 74% from the average session volume of 6,727,193 shares. The stock had previously closed at $158.56.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNOW. Redburn Atlantic reaffirmed a "sell" rating and issued a $125.00 target price (down from $180.00) on shares of Snowflake in a report on Tuesday, March 19th. Needham & Company LLC cut their price target on shares of Snowflake from $265.00 to $240.00 and set a "buy" rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. cut their price target on shares of Snowflake from $200.00 to $170.00 and set an "overweight" rating for the company in a report on Thursday, February 29th. Evercore ISI cut their price target on shares of Snowflake from $250.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Finally, Oppenheimer cut their price target on shares of Snowflake from $240.00 to $220.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average target price of $202.00.

Snowflake Trading Down 4.1 %

The stock has a market capitalization of $50.80 billion, a P/E ratio of -59.50 and a beta of 0.91. The company's 50-day moving average is $184.98 and its two-hundred day moving average is $179.48.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Sell-side analysts expect that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 1,500 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the transaction, the chief accounting officer now directly owns 28,393 shares of the company's stock, valued at $4,457,133.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, SVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the completion of the sale, the senior vice president now directly owns 726,567 shares of the company's stock, valued at $167,110,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the completion of the sale, the chief accounting officer now directly owns 28,393 shares of the company's stock, valued at $4,457,133.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,555 shares of company stock valued at $36,918,917. Corporate insiders own 8.30% of the company's stock.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Snowflake during the 3rd quarter valued at $458,000. Sequoia Financial Advisors LLC increased its holdings in Snowflake by 209.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company's stock valued at $927,000 after buying an additional 3,152 shares during the period. Glynn Capital Management LLC increased its holdings in Snowflake by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company's stock valued at $28,786,000 after buying an additional 5,629 shares during the period. Raymond James & Associates increased its holdings in Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company's stock valued at $58,802,000 after buying an additional 105,937 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Snowflake by 53.2% in the 4th quarter. Pacer Advisors Inc. now owns 5,442 shares of the company's stock valued at $1,083,000 after buying an additional 1,890 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.