Snowflake Inc. (NYSE:SNOW) Director Michael L. Speiser Sells 403 Shares

Key Points

• Michael L. Speiser, a director at Snowflake Inc., sold 403 shares at an average price of $208.69, resulting in a total sale value of $84,102.07 and a 1.52% decrease in his ownership.
• Snowflake reported $1.04 billion in revenue for the last quarter, surpassing analysts' expectations and marking a 25.8% year-over-year increase.
• Recent analyst reports highlighted a target price range for Snowflake between $225.00 and $250.00, with a general consensus rating of "Moderate Buy" from 33 analysts.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Michael L. Speiser sold 403 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $208.69, for a total value of $84,102.07. Following the completion of the sale, the director directly owned 26,136 shares of the company's stock, valued at approximately $5,454,321.84. This represents a 1.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snowflake Price Performance

Shares of SNOW traded up $3.37 during mid-day trading on Monday, hitting $208.39. The company's stock had a trading volume of 3,418,909 shares, compared to its average volume of 3,517,346. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a 50-day simple moving average of $213.88 and a 200 day simple moving average of $182.94. The firm has a market capitalization of $69.57 billion, a P/E ratio of -49.50 and a beta of 1.22. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $229.27.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.14 EPS. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. Analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. CICC Research initiated coverage on Snowflake in a research note on Friday, June 20th. They set an "outperform" rating and a $225.00 target price for the company. Royal Bank Of Canada raised their target price on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Evercore ISI reissued a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Monness Crespi & Hardt raised their target price on Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald boosted their price objective on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $226.73.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after purchasing an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snowflake in the second quarter valued at $3,900,134,000. Jennison Associates LLC grew its position in shares of Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company's stock valued at $1,790,309,000 after purchasing an additional 1,363,389 shares during the period. FMR LLC grew its position in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. 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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