Snowflake Inc. (NYSE:SNOW) Director Sells $85,174.05 in Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $211.35, for a total value of $85,174.05. Following the completion of the sale, the director now directly owns 25,569 shares of the company's stock, valued at approximately $5,404,008.15. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Snowflake Trading Down 0.0%

NYSE SNOW traded down $0.09 during trading on Monday, hitting $210.75. The stock had a trading volume of 3,542,128 shares, compared to its average volume of 6,345,392. The firm has a 50 day moving average price of $169.37 and a 200 day moving average price of $169.42. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $214.83. The company has a market capitalization of $70.36 billion, a PE ratio of -62.17 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 return on equity of 24.23% and a negative net margin of 33.02%. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, equities research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after buying an additional 8,857 shares during the last quarter. Kirtland Hills Capital Management LLC boosted its stake in Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after purchasing an additional 4,559 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Snowflake by 455.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after acquiring an additional 101,806 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new position in Snowflake during the fourth quarter valued at about $3,088,000. Finally, GraniteShares Advisors LLC acquired a new stake in Snowflake in the 4th quarter valued at approximately $781,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Hsbc Global Res lowered shares of Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and raised their target price for the company from $210.00 to $265.00 in a research note on Wednesday, June 4th. Robert W. Baird boosted their target price 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. Morgan Stanley reissued an "equal weight" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $222.81.

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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