Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $11,148,356.86. Following the sale, the director directly owned 36,956 shares in the company, valued at $8,184,645.32. This trade represents a 57.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Snowflake Stock Performance
Shares of Snowflake stock traded down $1.83 during trading on Tuesday, hitting $223.96. 1,988,615 shares of the stock were exchanged, compared to its average volume of 6,032,742. The stock has a market capitalization of $74.77 billion, a price-to-earnings ratio of -53.20 and a beta of 1.22. The company has a fifty day moving average price of $199.19 and a 200-day moving average price of $175.68. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $226.95. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.
Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 EPS. Snowflake's quarterly revenue was up 25.8% on a year-over-year basis. As a group, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new position in Snowflake in the 1st quarter valued at about $26,000. CVA Family Office LLC grew its stake in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on SNOW shares. Barclays reaffirmed an "overweight" rating and issued a $219.00 price objective (up from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Stifel Nicolaus raised their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Oppenheimer reaffirmed an "outperform" rating on shares of Snowflake in a research note on Tuesday, June 24th. Robert W. Baird raised their price objective 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. Finally, Piper Sandler reissued an "overweight" rating and set a $215.00 price target (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $225.36.
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About Snowflake
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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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