Snowflake (NYSE:SNOW) Stock Price Up 0.2%

Snowflake Inc. (NYSE:SNOW) rose 0.2% during trading on Wednesday . The stock traded as high as $142.79 and last traded at $142.15. Approximately 938,385 shares were traded during trading, a decline of 86% from the average daily volume of 6,619,505 shares. The stock had previously closed at $141.92.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNOW. Scotiabank dropped their price target on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $220.00 target price on shares of Snowflake in a research note on Monday. UBS Group lifted their price target on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. BNP Paribas upgraded shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group reduced their target price on Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.46.

Snowflake Trading Up 0.7 %

The business’s fifty day simple moving average is $145.02 and its 200-day simple moving average is $171.84.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The company had revenue of $828.71 million for the quarter, compared to the consensus estimate 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 research analysts forecast that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Benoit Dageville sold 558 shares of the company’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Benoit Dageville sold 558 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Emily Ho sold 3,845 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total value of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at approximately $3,991,629.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 519,112 shares of company stock worth $64,932,073. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently modified their holdings of SNOW. Cigna Investments Inc. New lifted its stake in Snowflake by 1.6% in the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares during the period. E&G Advisors LP boosted its stake in shares of Snowflake by 3.0% during the 4th quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares in the last quarter. Commerce Bank raised its stake in Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock worth $1,221,000 after buying an additional 51 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors 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.