Snowflake Inc. (NYSE:SNOW – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $159.84, but opened at $165.21. Snowflake shares last traded at $165.42, with a volume of 1,443,155 shares changing hands.
Analyst Ratings Changes
Several research firms recently issued reports on SNOW. Loop Capital dropped their target price on Snowflake from $200.00 to $195.00 in a report on Thursday, May 25th. Needham & Company LLC reissued a “buy” rating and issued a $216.00 price objective on shares of Snowflake in a report on Tuesday, September 5th. Sanford C. Bernstein decreased their target price on shares of Snowflake from $157.00 to $148.00 in a research note on Friday, May 26th. UBS Group dropped their price target on shares of Snowflake from $170.00 to $155.00 in a research report on Thursday, May 25th. Finally, BNP Paribas raised shares of Snowflake from an “underperform” rating to a “neutral” rating and set a $173.00 price objective for the company in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.55.
View Our Latest Analysis on Snowflake
Snowflake Price Performance
Snowflake (NYSE:SNOW – Get Free Report) last released its earnings results on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.12. The company had revenue of $674.00 million for the quarter, compared to analyst estimates of $662.22 million. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. Snowflake’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.67) EPS. On average, equities analysts expect that Snowflake Inc. will post -1.62 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Frank Slootman sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $175.12, for a total value of $70,048.00. Following the completion of the transaction, the chief executive officer now directly owns 185,683 shares in the company, valued at approximately $32,516,806.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $151.54, for a total transaction of $227,310.00. Following the completion of the sale, the senior vice president now directly owns 764,397 shares in the company, valued at approximately $115,836,721.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank Slootman sold 400 shares of Snowflake stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $175.12, for a total value of $70,048.00. Following the completion of the transaction, the chief executive officer now owns 185,683 shares in the company, valued at approximately $32,516,806.96. The disclosure for this sale can be found here. Insiders have sold 640,119 shares of company stock worth $113,277,810 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Snowflake by 48,395.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,467,899 shares of the company’s stock valued at $786,261,000 after acquiring an additional 4,458,686 shares in the last quarter. Norges Bank bought a new stake in shares of Snowflake during the fourth quarter worth about $477,435,000. GQG Partners LLC acquired a new position in shares of Snowflake in the first quarter valued at approximately $311,427,000. Jennison Associates LLC raised its holdings in Snowflake by 19.5% in the 2nd quarter. Jennison Associates LLC now owns 7,399,711 shares of the company’s stock valued at $1,302,201,000 after buying an additional 1,206,014 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in Snowflake during the 4th quarter worth approximately $119,432,000. Institutional investors own 63.74% 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.
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