Snowflake (NYSE:SNOW) Stock Price Up 0%

Snowflake Inc. (NYSE:SNOW)’s share price was up 0% during trading on Monday . The company traded as high as $159.61 and last traded at $158.19. Approximately 883,391 shares traded hands during trading, a decline of 86% from the average daily volume of 6,459,199 shares. The stock had previously closed at $158.13.

Analysts Set New Price Targets

SNOW has been the topic of a number of research reports. Redburn Atlantic reaffirmed a “sell” rating and set a $125.00 target price (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Bank of America dropped their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Mizuho reissued a “buy” rating and issued a $205.00 target price (down from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Macquarie raised Snowflake from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $182.00 to $205.00 in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake Trading Down 1.4 %

The company’s 50 day moving average price is $167.16 and its two-hundred day moving average price is $179.13. The firm has a market cap of $51.85 billion, a PE ratio of -60.85 and a beta of 0.91.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. Equities research analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, CRO Christopher William Degnan sold 12,533 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total value of $2,507,101.32. Following the completion of the transaction, the executive now owns 98,172 shares of the company’s stock, valued at approximately $19,638,326.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,533 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $200.04, for a total transaction of $2,507,101.32. Following the transaction, the executive now owns 98,172 shares of the company’s stock, valued at approximately $19,638,326.88. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock valued at $34,291,592 over the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several hedge funds have recently made changes to their positions in SNOW. Norges Bank purchased a new stake in Snowflake during the fourth quarter valued at approximately $838,455,000. Vanguard Group Inc. increased its position in Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after acquiring an additional 1,559,830 shares during the last quarter. FMR LLC raised its stake in shares of Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after acquiring an additional 1,496,235 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Snowflake in the 3rd quarter worth about $226,302,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Snowflake during the 1st quarter worth about $171,608,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.