Snowflake (NYSE:SNOW) Shares Down 0.2%

Snowflake Inc. (NYSE:SNOW) shares fell 0.2% during trading on Monday . The stock traded as low as $144.60 and last traded at $145.09. 1,567,657 shares traded hands during trading, a decline of 76% from the average session volume of 6,588,967 shares. The stock had previously closed at $145.45.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNOW. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a report on Friday, March 15th. JMP Securities lifted their target price on Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Truist Financial dropped their price objective on Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Needham & Company LLC dropped their price objective on Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Stock Up 2.7 %

The company has a market cap of $50.52 billion, a PE ratio of -59.28 and a beta of 0.91. The stock has a 50-day moving average of $174.58 and a 200-day moving average of $179.32.

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

Insider Buying and Selling

In related news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the transaction, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sridhar Ramaswamy bought 31,542 shares of Snowflake stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 168,209 shares of company stock worth $34,291,592. Corporate insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several large investors have recently made changes to their positions in the business. Cigna Investments Inc. New lifted its holdings in shares of Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares during the last quarter. E&G Advisors LP lifted its holdings in shares of Snowflake by 3.0% during the fourth 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 during the last quarter. Commerce Bank lifted its holdings in shares of Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in shares of Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after purchasing an additional 53 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.