Snowflake (NYSE:SNOW) Stock Price Down 0.2%

Snowflake Inc. (NYSE:SNOW - Get Free Report) was down 0.2% on Monday . The stock traded as low as $144.60 and last traded at $145.09. Approximately 1,567,657 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 6,588,967 shares. The stock had previously closed at $145.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SNOW shares. Redburn Atlantic reissued a "sell" rating and set a $125.00 price target (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Guggenheim raised shares of Snowflake from a "sell" rating to a "neutral" rating in a research report on Friday, March 15th. Raymond James boosted their price target on Snowflake from $190.00 to $223.00 and gave the stock an "outperform" rating in a research note on Friday, February 2nd. Wedbush raised their price objective on Snowflake from $144.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Finally, Truist Financial dropped their price objective on Snowflake from $250.00 to $210.00 and set a "buy" rating for the company in a research 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $202.00.

Snowflake Trading Up 1.2 %

The firm has a 50-day moving average price of $177.80 and a 200-day moving average price of $179.41. The stock has a market capitalization of $49.20 billion, a PE ratio of -57.73 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 for the quarter, beating analysts' consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Sell-side analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 1,500 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Frank Slootman sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the completion of the transaction, the chief executive officer now owns 180,143 shares of the company's stock, valued at $40,555,593.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now 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 ninety days, insiders sold 180,555 shares of company stock valued at $36,868,487. Company insiders own 8.30% of the company's stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently made changes to their positions in SNOW. Rakuten Securities Inc. purchased a new position in shares of Snowflake during the 4th quarter worth approximately $790,000. Sequoia Financial Advisors LLC lifted its position in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company's stock valued at $927,000 after acquiring an additional 3,152 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Snowflake in the third quarter worth about $458,000. Glynn Capital Management LLC lifted its holdings in shares of Snowflake by 3.1% during the third quarter. Glynn Capital Management LLC now owns 188,428 shares of the company's stock valued at $28,786,000 after purchasing an additional 5,629 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Snowflake by 55.9% in the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company's stock worth $58,802,000 after buying an additional 105,937 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other 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.