Snowflake (NYSE:SNOW) Shares Down 2.8%

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s share price was down 2.8% during mid-day trading on Thursday . The stock traded as low as $149.55 and last traded at $150.61. Approximately 1,152,432 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 6,493,856 shares. The stock had previously closed at $154.99.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SNOW shares. JPMorgan Chase & Co. cut their target price on shares of Snowflake from $200.00 to $170.00 and set an "overweight" rating on the stock in a report on Thursday, February 29th. Citigroup cut their target price on shares of Snowflake from $290.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 4th. StockNews.com cut shares of Snowflake from a "hold" rating to a "sell" rating in a report on Monday. Needham & Company LLC cut their target price on shares of Snowflake from $265.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Finally, UBS Group raised their price target on Snowflake from $185.00 to $225.00 and gave the stock a "neutral" rating in a research note on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $202.00.

Snowflake Stock Performance

The stock has a market capitalization of $50.97 billion, a PE ratio of -59.06 and a beta of 0.91. The stock has a 50-day moving average price of $172.95 and a two-hundred day moving average price of $179.15.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data 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 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 analysts' expectations of $759.86 million. As a group, equities analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Activity at Snowflake

In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price 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 approximately $5,000,037.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price 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 approximately $5,000,037.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 1,500 shares of the stock in a transaction on 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 in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,209 shares of company stock worth $34,291,592. Company insiders own 8.30% of the company's stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in shares of Snowflake during the fourth quarter valued at $25,000. Ulland Investment Advisors LLC boosted its position in Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company's stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. Provence Wealth Management Group acquired a new stake in Snowflake in the third quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company's stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company's stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

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.

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