Snowflake (NYSE:SNOW) Shares Down 1.1%

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s share price was down 1.1% during mid-day trading on Wednesday . The stock traded as low as $149.11 and last traded at $150.30. Approximately 4,705,665 shares were traded during trading, a decline of 10% from the average daily volume of 5,239,566 shares. The stock had previously closed at $151.98.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SNOW shares. Stifel Nicolaus reduced their target price on shares of Snowflake from $235.00 to $220.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Wedbush raised their target price on shares of Snowflake from $144.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Rosenblatt Securities raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $185.00 target price for the company in a report on Friday, April 5th. Royal Bank of Canada reduced their target price on shares of Snowflake from $255.00 to $246.00 and set an "outperform" rating for the company in a report on Thursday, February 29th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Snowflake in a report on Thursday, February 29th. Two equities research 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. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $202.00.

Snowflake Trading Down 1.0 %

The firm's fifty day moving average price is $181.05 and its 200 day moving average price is $179.26. The stock has a market capitalization of $49.73 billion, a price-to-earnings ratio of -58.35 and a beta of 0.91.

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

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of Snowflake stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares of the company's stock, valued at $5,000,037.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the firm's stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold a total of 180,555 shares of company stock worth $36,868,487 in the last ninety days. 8.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of SNOW. Cigna Investments Inc. New raised its stake in Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company's stock worth $656,000 after acquiring an additional 51 shares in the last quarter. E&G Advisors LP grew its position in Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company's stock worth $352,000 after purchasing an additional 51 shares during the last quarter. Commerce Bank grew its position in Snowflake by 0.8% during the 4th quarter. Commerce Bank now owns 6,138 shares of the company's stock worth $1,221,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company's stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company's stock worth $68,000 after purchasing an additional 53 shares during 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.