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

Snowflake Inc. (NYSE:SNOW) Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $211.35, for a total value of $10,638,936.30. Following the sale, the director now directly owns 37,796 shares in the company, valued at $7,988,184.60. This trade represents a 57.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Snowflake Trading Down 1.2%

Shares of Snowflake stock opened at $208.23 on Wednesday. The company’s fifty day simple moving average is $171.87 and its 200-day simple moving average is $169.99. The company has a market cap of $69.52 billion, a price-to-earnings ratio of -61.42 and a beta of 1.21. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. Snowflake’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SNOW shares. Daiwa Capital Markets started coverage on Snowflake in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. Jefferies Financial Group lifted their price target on Snowflake from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Scotiabank reiterated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Piper Sandler reiterated an “overweight” rating and set a $215.00 price target (up previously from $175.00) on shares of Snowflake in a report on Wednesday, May 21st. Finally, Citigroup reiterated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.81.

Institutional Investors Weigh In On Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new position in Snowflake in the 1st quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new position in Snowflake in the 4th quarter valued at approximately $29,000. CVA Family Office LLC raised its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after acquiring an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter valued at approximately $31,000. Finally, Spurstone Advisory Services LLC acquired a new position in Snowflake in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.10% 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, as well as applies artificial intelligence (AI) for solving business problems.