Snowflake (NYSE:SNOW) CAO Sells $373,464.50 in Stock

Snowflake Inc. (NYSE:SNOW) CAO Emily Ho sold 1,658 shares of the stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total transaction of $373,464.50. Following the transaction, the chief accounting officer directly owned 31,745 shares of the company’s stock, valued at approximately $7,150,561.25. This trade represents a 4.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Snowflake Trading Up 1.4%

Shares of SNOW stock opened at $224.64 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $76.11 billion, a PE ratio of -54.13 and a beta of 1.22. The company has a 50-day moving average of $214.29 and a two-hundred day moving average of $193.53. Snowflake Inc. has a 1-year low of $108.71 and a 1-year high of $249.99.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. Snowflake’s revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Loop Capital raised their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Wells Fargo & Company raised their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Stephens assumed coverage on shares of Snowflake in a research note on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective for the company. Finally, Cantor Fitzgerald raised their price objective on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.53.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently modified their holdings of the business. Trust Co. of Toledo NA OH acquired a new position in shares of Snowflake in the 2nd quarter valued at $25,000. Avion Wealth increased its holdings in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Snowflake in the 1st quarter valued at $26,000. CVA Family Office LLC increased its holdings in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares during the period. Finally, Rossby Financial LCC increased its holdings in shares of Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. 65.10% of the stock is 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.