Snowflake Inc. (NYSE:SNOW - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $208.31 and last traded at $206.19, with a volume of 9630610 shares. The stock had previously closed at $200.05.
Analysts Set New Price Targets
SNOW has been the subject of several recent research reports. BTIG Research reissued a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Robert W. Baird raised their target price on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Rosenblatt Securities restated a "buy" rating and issued a $205.00 target price on shares of Snowflake in a research note on Monday, May 19th. UBS Group raised their target price on Snowflake from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Finally, HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $217.33.
Check Out Our Latest Analysis on SNOW
Snowflake Trading Down 1.0%
The stock has a fifty day moving average of $162.77 and a two-hundred day moving average of $165.80. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $66.81 billion, a PE ratio of -59.70 and a beta of 1.11.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.
Insider Activity at Snowflake
In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now directly owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 400,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 849,779 shares of company stock valued at $158,838,193 in the last three months. Company insiders own 7.80% of the company's stock.
Hedge Funds Weigh In On Snowflake
A number of hedge funds have recently added to or reduced their stakes in SNOW. Norges Bank bought a new stake in Snowflake in the 4th quarter worth about $988,950,000. GQG Partners LLC bought a new position in Snowflake during the 4th quarter valued at about $750,572,000. Nuveen LLC purchased a new stake in shares of Snowflake during the 1st quarter valued at about $555,847,000. Jennison Associates LLC grew its stake in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. Finally, FMR LLC raised its holdings in shares of Snowflake by 84.9% during 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 last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
Snowflake Company Profile
(
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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