Snowflake (NYSE:SNOW) Trading Up 1.8% – Here’s What Happened

by · The Cerbat Gem

Snowflake Inc. (NYSE:SNOW – Get Free Report)’s stock price traded up 1.8% during mid-day trading on Thursday . The company traded as high as $221.66 and last traded at $220.47. 4,833,738 shares were traded during mid-day trading, a decline of 8% from the average session volume of 5,264,208 shares. The stock had previously closed at $216.55.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Cowen restated a “buy” rating on shares of Snowflake in a report on Thursday, December 4th. Oppenheimer reissued an “outperform” rating on shares of Snowflake in a research report on Friday, November 21st. Cantor Fitzgerald upped their target price on shares of Snowflake from $275.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Evercore ISI lifted their price target on shares of Snowflake from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Truist Financial boosted their price target on shares of Snowflake from $235.00 to $270.00 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 assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $274.78.

Get Our Latest Stock Report on Snowflake

Snowflake Trading Up 1.8%

The business’s 50 day simple moving average is $250.99 and its 200 day simple moving average is $227.12. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.48. The company has a market capitalization of $74.70 billion, a price-to-earnings ratio of -54.57 and a beta of 1.09.

Snowflake (NYSE:SNOW – Get Free Report) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the company posted $0.20 earnings per share. The business’s revenue was up 28.7% on a year-over-year basis. Research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 1,993 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $223.31, for a total value of $445,056.83. Following the transaction, the director directly owned 150,456 shares of the company’s stock, valued at approximately $33,598,329.36. The trade was a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $92,951.95. Following the transaction, the director directly owned 24,524 shares in the company, valued at approximately $5,656,460.60. This trade represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 221,360 shares of company stock valued at $53,391,315 over the last three months. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of SNOW. Vanguard Group Inc. increased its position in Snowflake by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after purchasing an additional 857,832 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake during the 2nd quarter worth about $3,900,134,000. Jennison Associates LLC grew its holdings in shares of Snowflake by 13.5% during the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock worth $2,048,871,000 after buying an additional 1,083,222 shares in the last quarter. State Street Corp raised its position in shares of Snowflake by 1.4% in the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after buying an additional 94,293 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Snowflake by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after buying an additional 652,485 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

(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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