Snowflake (NYSE:SNOW) Director Sells 343 Shares

Snowflake Inc. (NYSE:SNOW) Director Teresa Briggs sold 343 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73. Following the completion of the sale, the director owned 5,060 shares of the company’s stock, valued at approximately $1,290,856.60. This represents a 6.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Teresa Briggs sold 344 shares of Snowflake stock. The stock was sold at an average price of $254.64, for a total transaction of $87,596.16.

Snowflake Stock Up 0.7%

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

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

Analyst Ratings Changes

Several brokerages have issued reports on SNOW. DA Davidson raised their price target on Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. HSBC set a $289.00 price objective on shares of Snowflake and gave the company a “buy” rating in a research report on Friday, May 29th. Loop Capital lifted their target price on shares of Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Wedbush upped their price target on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Finally, Evercore set a $200.00 price target on shares of Snowflake in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $293.53.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of SNOW. Kemnay Advisory Services Inc. bought a new stake in Snowflake in the 4th quarter valued at about $28,000. Greenline Wealth Management LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $29,000. GoalVest Advisory LLC raised its position in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares in the last quarter. Basecamp Wealth Advisors LLC raised its position in shares of Snowflake by 140.5% in the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $30,000 after buying an additional 118 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

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.