Snowflake (NYSE:SNOW) Trading Down 1.1%

Snowflake Inc. (NYSE:SNOW) shares were down 1.1% during trading on Thursday . The stock traded as low as $125.32 and last traded at $126.25. Approximately 1,682,183 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 6,454,354 shares. The stock had previously closed at $127.60.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Canaccord Genuity Group lowered their target price on Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Mizuho reduced their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a report on Wednesday, June 5th. Finally, KeyCorp raised their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $198.64.

Snowflake Trading Up 1.0 %

The business has a 50-day moving average price of $147.69 and a 200 day moving average price of $175.42. The stock has a market cap of $42.80 billion, a PE ratio of -45.66 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The business had revenue of $828.71 million for the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. On average, equities analysts predict that Snowflake Inc. will post -2.27 earnings per share for the current year.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 558 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the transaction, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 1,476 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $128.47, for a total transaction of $189,621.72. Following the transaction, the director now directly owns 230,527 shares of the company’s stock, valued at approximately $29,615,803.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,862 shares of company stock valued at $5,895,712. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Accent Capital Management LLC bought a new position in Snowflake in the 4th quarter worth about $25,000. LRI Investments LLC bought a new position in shares of Snowflake in the first quarter worth approximately $29,000. FinTrust Capital Advisors LLC raised its stake in Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co bought a new stake in Snowflake during the first quarter valued at approximately $31,000. Finally, M&R Capital Management Inc. grew its stake in Snowflake by 100.0% in the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.