Snowflake (NYSE:SNOW) Trading Down 1% on Insider Selling

Snowflake Inc. (NYSE:SNOW - Get Free Report)'s share price fell 1% on Tuesday after an insider sold shares in the company. The stock traded as low as $208.14 and last traded at $208.67. 1,084,831 shares were traded during trading, a decline of 83% from the average session volume of 6,324,972 shares. The stock had previously closed at $210.85.

Specifically, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $211.35, for a total transaction of $10,638,936.30. Following the completion of the transaction, the director now directly owns 37,796 shares in the company, valued at $7,988,184.60. This represents a 57.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $85,174.05. Following the completion of the sale, the director now owns 25,569 shares in the company, valued at $5,404,008.15. This represents a 1.55% decrease in their position. The disclosure for this sale can be found here. In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the completion of the sale, the executive vice president now owns 570,632 shares in the company, valued at $117,361,883.44. This trade represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SNOW. Macquarie upped their price objective on shares of Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Cowen reaffirmed a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. KeyCorp cut their price objective on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Finally, BTIG Research restated a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.81.

Snowflake Stock Performance

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 stock has a market capitalization of $70.41 billion, a price-to-earnings ratio of -62.21 and a beta of 1.21. The stock's 50 day moving average is $173.43 and its two-hundred day moving average is $170.25.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly 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. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. The business's revenue was up 25.8% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently modified their holdings of SNOW. Brighton Jones LLC raised its holdings in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Snowflake by 8.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 2,441 shares of the company's stock worth $377,000 after purchasing an additional 195 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Snowflake by 50.6% in the 4th quarter. Empowered Funds LLC now owns 9,054 shares of the company's stock valued at $1,398,000 after buying an additional 3,041 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Snowflake by 9.8% in the fourth quarter. Stephens Inc. AR now owns 2,945 shares of the company's stock valued at $455,000 after buying an additional 262 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Snowflake by 53.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 5,079 shares of the company's stock worth $784,000 after buying an additional 1,769 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

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.