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

by · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $208.69, for a total transaction of $10,505,037.22. Following the completion of the sale, the director owned 36,116 shares in the company, valued at approximately $7,537,048.04. This trade represents a 58.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Snowflake Price Performance

Shares of NYSE SNOW opened at $205.74 on Wednesday. The firm has a market capitalization of $68.69 billion, a P/E ratio of -48.87 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock’s 50-day simple moving average is $214.04 and its two-hundred day simple moving average is $183.36. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27.

Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company’s revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock valued at $3,974,705,000 after acquiring an additional 316,573 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in Snowflake in the 2nd quarter worth approximately $3,900,134,000. Jennison Associates LLC lifted its holdings in Snowflake by 20.5% in the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares during the period. FMR LLC lifted its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Snowflake by 19.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after buying an additional 763,673 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SNOW. CICC Research began coverage on shares of Snowflake in a research report on Friday, June 20th. They issued an “outperform” rating and a $225.00 price target on the stock. Cantor Fitzgerald boosted their price objective on Snowflake from $183.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Loop Capital boosted their price objective on Snowflake from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price objective on Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Finally, UBS Group upgraded Snowflake from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $226.73.

Check Out Our Latest Stock Report on Snowflake

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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