Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Teresa Briggs sold 1,146 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director owned 4,474 shares of the company's stock, valued at approximately $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Snowflake Trading Up 1.7%
Shares of NYSE:SNOW traded up $3.79 during midday trading on Thursday, hitting $221.13. The company's stock had a trading volume of 2,761,777 shares, compared to its average volume of 6,054,199. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $225.68. The business's 50 day simple moving average is $195.35 and its 200 day simple moving average is $174.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.
Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business's revenue was up 25.8% on a year-over-year basis. During the same period last year, the company posted $0.14 EPS. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on SNOW. Raymond James Financial reiterated an "outperform" rating and issued a $212.00 target price (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Evercore ISI reiterated a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $250.00 price target (up previously from $225.00) on shares of Snowflake in a research report on Friday, June 13th. JPMorgan Chase & Co. boosted their price target on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Finally, Monness Crespi & Hardt raised their price objective on Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.36.
Check Out Our Latest Research Report on SNOW
Hedge Funds Weigh In On Snowflake
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP grew its holdings in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after purchasing an additional 59 shares during the period. Ignite Planners LLC lifted its stake in Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after purchasing an additional 64 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after buying an additional 65 shares during the period. Archford Capital Strategies LLC grew its stake in shares of Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after buying an additional 68 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.
About Snowflake
(
Get Free Report)
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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