Snowflake Inc. (NYSE:SNOW) Director Michael L. Speiser Sells 403 Shares

Snowflake Inc. (NYSE:SNOW) Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $211.35, for a total transaction of $85,174.05. Following the transaction, the director now owns 25,569 shares in the company, valued at $5,404,008.15. The trade was a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Snowflake Trading Down 1.2%

NYSE:SNOW opened at $208.23 on Wednesday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $214.83. The firm has a fifty day simple moving average of $171.87 and a 200-day simple moving average of $169.99. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $69.52 billion, a P/E ratio of -61.42 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on SNOW shares. Daiwa Capital Markets started coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price on the stock. Hsbc Global Res downgraded shares of Snowflake from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upped their target price on shares of Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Jefferies Financial Group increased their price objective on shares of Snowflake from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $222.81.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.2% during the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after buying an additional 316,573 shares during the period. Norges Bank acquired a new position in Snowflake during the fourth quarter valued at $988,950,000. FMR LLC lifted its position in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. GQG Partners LLC acquired a new position in Snowflake during the fourth quarter valued at $750,572,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.