Snowflake Inc. (NYSE:SNOW) CEO Sridhar Ramaswamy Buys 31,542 Shares of Stock

Snowflake Inc. (NYSE:SNOW) CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Snowflake Stock Up 1.3 %

Shares of Snowflake stock opened at $160.05 on Thursday. The firm’s 50 day moving average price is $195.94 and its 200-day moving average price is $179.43. Snowflake Inc. has a 52-week low of $134.17 and a 52-week high of $237.72. The company has a market cap of $52.70 billion, a P/E ratio of -62.76 and a beta of 0.94.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.80%. The firm had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. As a group, equities research analysts forecast that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently modified their holdings of SNOW. HighPoint Advisor Group LLC acquired a new stake in Snowflake during the fourth quarter worth about $337,000. Quadrature Capital Ltd purchased a new position in Snowflake during the fourth quarter worth about $40,471,000. PNC Financial Services Group Inc. boosted its stake in shares of Snowflake by 20.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 25,587 shares of the company’s stock valued at $5,092,000 after purchasing an additional 4,428 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Snowflake in the fourth quarter valued at approximately $8,955,000. Finally, Accent Capital Management LLC purchased a new position in shares of Snowflake in the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SNOW. Wedbush raised their price target on shares of Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Raymond James boosted their price objective on shares of Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. HSBC restated a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. Bank of America cut their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Finally, Truist Financial cut their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $202.50.

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.