Snowflake (NYSE:SNOW) Stock Price Down 2.1% – Time to Sell?

Snowflake Inc. (NYSE:SNOW) traded down 2.1% during trading on Tuesday . The stock traded as low as $204.94 and last traded at $206.0560. 3,722,904 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 4,637,152 shares. The stock had previously closed at $210.38.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNOW. Sanford C. Bernstein reissued a “market perform” rating and issued a $237.00 target price on shares of Snowflake in a report on Thursday, December 4th. DA Davidson reissued a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a research note on Monday, December 1st. KeyCorp increased their price target on Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Cowen restated a “buy” rating on shares of Snowflake in a research report on Thursday, December 4th. Finally, Macquarie upped their price objective on Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $275.58.

Snowflake Stock Down 2.1%

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average price of $231.92 and a 200-day moving average price of $228.75. The stock has a market capitalization of $70.51 billion, a P/E ratio of -51.00 and a beta of 1.14.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis. As a group, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the completion of the transaction, the senior vice president directly owned 218,020 shares of the company’s stock, valued at $48,060,328.80. This trade represents a 5.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the sale, the executive vice president owned 512,450 shares in the company, valued at approximately $127,871,648.50. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 418,681 shares of company stock valued at $96,073,145. 6.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently modified their holdings of SNOW. Secure Asset Management LLC increased its position in shares of Snowflake by 8.4% during the 4th quarter. Secure Asset Management LLC now owns 1,968 shares of the company’s stock valued at $432,000 after purchasing an additional 152 shares during the last quarter. Independence Bank of Kentucky boosted its stake in Snowflake by 9.0% during the fourth quarter. Independence Bank of Kentucky now owns 7,515 shares of the company’s stock worth $1,648,000 after buying an additional 622 shares during the period. RPG Investment Advisory LLC increased its position in Snowflake by 0.9% during the fourth quarter. RPG Investment Advisory LLC now owns 28,857 shares of the company’s stock valued at $6,330,000 after acquiring an additional 262 shares during the last quarter. Signaturefd LLC raised its stake in shares of Snowflake by 6.0% in the fourth quarter. Signaturefd LLC now owns 3,637 shares of the company’s stock valued at $798,000 after acquiring an additional 206 shares during the period. Finally, Ascent Group LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $210,000. 65.10% of the stock is owned by institutional investors.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.