Snowflake Inc. (NYSE:SNOW) CAO Sells $1,000,674.62 in Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) CAO Emily Ho sold 5,027 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $199.06, for a total transaction of $1,000,674.62. Following the sale, the chief accounting officer now directly owns 40,608 shares in the company, valued at $8,083,428.48. This represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Snowflake Trading Up 2.1%

SNOW traded up $4.22 during mid-day trading on Monday, hitting $209.89. The stock had a trading volume of 4,467,103 shares, compared to its average volume of 6,427,074. The stock's fifty day simple moving average is $164.64 and its 200-day simple moving average is $167.45. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $70.07 billion, a price-to-earnings ratio of -61.91 and a beta of 1.11. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $210.44.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $0.14 earnings per share. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Snowflake

Large investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in shares of Snowflake during the first quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the fourth quarter worth $29,000. CVA Family Office LLC increased its position in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Snowflake during the fourth quarter worth $31,000. Institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

SNOW has been the topic of several research analyst reports. Daiwa Capital Markets initiated coverage on shares of Snowflake in a research note on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective on the stock. Royal Bank of Canada set a $236.00 price objective on shares of Snowflake and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Raymond James reissued an "outperform" rating and set a $212.00 price target (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Rosenblatt Securities reissued a "buy" rating and set a $205.00 price target on shares of Snowflake in a research note on Monday, May 19th. Finally, Robert W. Baird increased their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $217.33.

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.