Snowflake (NYSE:SNOW) Director Sells 344 Shares

Snowflake Inc. (NYSE:SNOW) Director Teresa Briggs sold 344 shares of Snowflake stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $254.64, for a total transaction of $87,596.16. Following the completion of the transaction, the director directly owned 5,403 shares in the company, valued at approximately $1,375,819.92. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Teresa Briggs also recently made the following trade(s):

• On Monday, July 6th, Teresa Briggs sold 343 shares of Snowflake stock. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73.

Snowflake Trading Up 0.7%

Snowflake stock opened at $261.88 on Tuesday. The company has a 50 day moving average price of $205.08 and a 200 day moving average price of $190.58. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $90.77 billion, a price-to-earnings ratio of -74.40 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company posted $0.24 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNOW. Cantor Fitzgerald upped their price target on Snowflake from $225.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Piper Sandler lifted their target price on Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Scotiabank upped their target price on Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a report on Monday, June 8th. Wedbush boosted their price objective on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, DA Davidson upped their price objective on shares of Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $293.53.

Institutional Trading of Snowflake

A number of institutional investors have recently added to or reduced their stakes in SNOW. Hobart Private Capital LLC grew its position in Snowflake by 13.4% in the second quarter. Hobart Private Capital LLC now owns 10,803 shares of the company’s stock worth $2,749,000 after acquiring an additional 1,276 shares in the last quarter. Stableford Capital II LLC raised its holdings in shares of Snowflake by 6.9% during the 2nd quarter. Stableford Capital II LLC now owns 4,068 shares of the company’s stock valued at $1,035,000 after purchasing an additional 262 shares in the last quarter. RDA Financial Network acquired a new stake in shares of Snowflake in the 2nd quarter valued at $255,000. CX Institutional boosted its holdings in Snowflake by 47.8% in the second quarter. CX Institutional now owns 1,076 shares of the company’s stock worth $274,000 after purchasing an additional 348 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its holdings in Snowflake by 140.5% in the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after purchasing an additional 118 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.