Snowflake (NYSE:SNOW) Trading Down 2.1% – What’s Next?

Snowflake Inc. (NYSE:SNOW)’s stock price was down 2.1% during trading on Tuesday . The stock traded as low as $204.94 and last traded at $206.0560. Approximately 3,722,904 shares changed hands during trading, a decline of 20% from the average daily volume of 4,637,152 shares. The stock had previously closed at $210.38.

Analyst Ratings Changes

SNOW has been the topic of several recent analyst reports. Citigroup reduced their price target on Snowflake from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 8th. Raymond James Financial set a $250.00 target price on shares of Snowflake in a research report on Monday, December 15th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $237.00 price target on shares of Snowflake in a report on Thursday, December 4th. Cantor Fitzgerald increased their price objective on Snowflake from $275.00 to $278.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Finally, Scotiabank restated an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.58.

Snowflake Stock Down 2.1%

The business’s 50 day moving average is $231.92 and its 200 day moving average is $228.75. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The company has a market cap of $70.51 billion, a P/E ratio of -51.00 and a beta of 1.14.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business’s revenue was up 28.7% compared to the same quarter last year. During the same period last year, the business posted $0.20 EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $249.53, for a total transaction of $2,495,300.00. Following the completion of the transaction, the executive vice president owned 512,450 shares in the company, valued at $127,871,648.50. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the sale, the director directly owned 32,756 shares of the company’s stock, valued at $7,555,171.40. The trade was a 60.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 418,681 shares of company stock valued at $96,073,145. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Snowflake by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after buying an additional 857,832 shares during the last quarter. Jennison Associates LLC boosted its holdings in Snowflake by 13.5% in the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock worth $2,048,871,000 after acquiring an additional 1,083,222 shares in the last quarter. State Street Corp grew its stake in shares of Snowflake by 1.4% during the second quarter. State Street Corp now owns 6,887,073 shares of the company’s stock worth $1,541,120,000 after acquiring an additional 94,293 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Snowflake by 15.2% during the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after acquiring an additional 652,485 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Snowflake by 3.1% during the second quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company’s stock valued at $986,057,000 after acquiring an additional 133,059 shares in the last quarter. Hedge funds and other institutional investors 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.