Snowflake (NYSE:SNOW) Trading Down 1.9% on Insider Selling

Snowflake Inc. (NYSE:SNOW - Get Free Report) shares were down 1.9% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $221.75 and last traded at $221.56. Approximately 963,405 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,029,172 shares. The stock had previously closed at $225.79.

Specifically, Director Frank Slootman sold 187,815 shares of Snowflake stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $216.55, for a total value of $40,671,338.25. Following the transaction, the director owned 165,507 shares of the company's stock, valued at approximately $35,840,540.85. The trade was a 53.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 178,949 shares of Snowflake stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $221.16, for a total transaction of $39,576,360.84. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at approximately $36,603,528.12. The trade was a 51.95% decrease in their position. The disclosure for this sale can be found here. In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total value of $11,148,356.86. Following the transaction, the director owned 36,956 shares of the company's stock, valued at approximately $8,184,645.32. The trade was a 57.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

SNOW has been the topic of several recent research reports. Bank of America lifted their price target on Snowflake from $172.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. BTIG Research reissued a "buy" rating on shares of Snowflake in a research note on Thursday, May 22nd. Piper Sandler reissued an "overweight" rating and issued a $215.00 price target (up previously from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. DA Davidson reissued a "buy" rating and issued a $250.00 price target on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Cowen reissued 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, six have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Snowflake Trading Down 1.0%

The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company's fifty day moving average price is $199.19 and its 200 day moving average price is $175.68.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The firm 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 37.75% and a negative net margin of 36.43%. The company's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. As a group, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Opal Wealth Advisors LLC bought a new stake in Snowflake during the first quarter worth about $26,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. bought a new stake in Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

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.