Michael Speiser Sells 50,338 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Michael Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $230.65, for a total value of $11,610,459.70. Following the sale, the director directly owned 32,756 shares of the company’s stock, valued at approximately $7,555,171.40. The trade was a 60.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Snowflake Stock Down 1.7%

Shares of SNOW stock traded down $3.80 during trading hours on Monday, hitting $224.99. 6,308,610 shares of the company were exchanged, compared to its average volume of 5,247,200. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $251.34 and a two-hundred day moving average of $226.88. The company has a market capitalization of $76.23 billion, a PE ratio of -55.69 and a beta of 1.09.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 43.84%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 EPS. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on SNOW shares. Wells Fargo & Company upped their price objective on Snowflake from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday. UBS Group restated a “buy” rating on shares of Snowflake in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target on shares of Snowflake in a research note on Thursday. Robert W. Baird lifted their price objective on shares of Snowflake from $260.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $274.78.

Institutional Trading of Snowflake

A number of large investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Snowflake during the second quarter worth approximately $3,900,134,000. Norges Bank acquired a new position in Snowflake in the 2nd quarter valued at $944,895,000. Nuveen LLC bought a new position in Snowflake during the 1st quarter worth $555,847,000. Winslow Capital Management LLC acquired a new stake in shares of Snowflake during the second quarter worth $725,667,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after buying an additional 2,460,769 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.