Snowflake (NYSE:SNOW) Stock Price Down 1.2% – What’s Next?

by · The Cerbat Gem

Snowflake Inc. (NYSE:SNOW – Get Free Report) traded down 1.2% during trading on Friday . The company traded as low as $215.21 and last traded at $217.9450. 3,865,120 shares were traded during mid-day trading, a decline of 26% from the average session volume of 5,257,860 shares. The stock had previously closed at $220.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNOW shares. Rosenblatt Securities lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. Truist Financial increased their price target on shares of Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Sanford C. Bernstein restated a “market perform” rating and set a $237.00 price objective on shares of Snowflake in a research report on Thursday, December 4th. Stifel Nicolaus upped their target price on Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Finally, Macquarie raised their price target on Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $274.78.

Get Our Latest Stock Report on Snowflake

Snowflake Price Performance

The company has a market capitalization of $73.84 billion, a price-to-earnings ratio of -53.95 and a beta of 1.09. The company has a fifty day simple moving average of $250.59 and a two-hundred day simple moving average of $227.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.48 and a current ratio of 1.37.

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

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $257.30, for a total transaction of $12,951,967.40. Following the transaction, the director directly owned 33,596 shares in the company, valued at $8,644,250.80. This represents a 59.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 7,551 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the transaction, the director directly owned 153,226 shares in the company, valued at approximately $33,899,720.24. This represents a 4.70% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 221,360 shares of company stock worth $53,391,315. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake in the 2nd quarter worth about $25,000. Grey Fox Wealth Advisors LLC acquired a new stake in Snowflake during the 3rd quarter worth approximately $25,000. Avion Wealth increased its position in Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares in the last quarter. Tripletail Wealth Management LLC purchased a new position in Snowflake in the third quarter valued at approximately $28,000. Finally, Rossby Financial LCC lifted its position in Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

(Get Free Report)

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.

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