Key Points
- SVP Vivek Raghunathan sold 11,801 Snowflake shares on Dec. 31 at an average price of $220.44 for a total of $2.60M, trimming his stake by 5.13% to 218,020 shares (about $48.06M).
- Company performance and sentiment: Snowflake beat quarterly estimates (EPS $0.35 vs. $0.31; revenue $1.21B, +28.7% YoY) but remains unprofitable (net margin -30.76%, ROE -45.91%); analysts maintain a consensus "Moderate Buy" with a $275.32 target and several recent price-target raises.
Snowflake Inc. (NYSE:SNOW - Get Free Report) SVP Vivek Raghunathan sold 11,801 shares of the firm's stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the transaction, the senior vice president directly owned 218,020 shares in the company, valued at $48,060,328.80. This trade represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Snowflake Stock Performance
SNOW stock opened at $224.67 on Tuesday. The company has a 50-day simple moving average of $242.16 and a 200 day simple moving average of $228.87. The company has a market capitalization of $76.88 billion, a P/E ratio of -55.61 and a beta of 1.14. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67.
Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. Snowflake's quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. Sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on SNOW shares. JMP Securities lifted their price target on Snowflake from $283.00 to $325.00 and gave the company a "market outperform" rating in a research report on Tuesday, October 28th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $237.00 target price on shares of Snowflake in a report on Thursday, December 4th. Canaccord Genuity Group boosted their price target on shares of Snowflake from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, December 4th. Raymond James Financial set a $250.00 price objective on shares of Snowflake in a research report on Monday, December 15th. Finally, Robert W. Baird lifted their price objective on shares of Snowflake from $260.00 to $270.00 and gave the stock an "outperform" rating in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.32.
View Our Latest Stock Analysis on SNOW
Institutional Investors Weigh In On Snowflake
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Snowflake by 3.1% during the third 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 in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $3,900,134,000. Jennison Associates LLC lifted its holdings in shares of Snowflake by 13.5% during the 3rd 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 during the period. State Street Corp increased its stake in Snowflake by 1.4% in the second quarter. State Street Corp now owns 6,887,073 shares of the company's stock valued at $1,541,120,000 after acquiring an additional 94,293 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Snowflake by 15.2% in the second quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company's stock worth $1,108,045,000 after purchasing an additional 652,485 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Company Profile
(
Get Free Report)
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.
Further Reading
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