Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Mark Garrett sold 50,000 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $350.00, for a total value of $17,500,000.00. Following the completion of the transaction, the director directly owned 10,074 shares in the company, valued at approximately $3,525,900. This represents a 83.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Snowflake Trading Down 1.2%
Shares of NYSE:SNOW opened at $331.41 on Thursday. The company has a current ratio of 0.94, a quick ratio of 1.05 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The company has a market cap of $114.87 billion, a PE ratio of -104.22 and a beta of 1.33. The stock has a 50 day moving average of $302.45 and a 200 day moving average of $223.92.
Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.17. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company's revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that Snowflake Inc. will post -1.62 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. North Dakota State Investment Board purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $3,495,000. Allstate Corp boosted its holdings in Snowflake by 108.1% during the fourth quarter. Allstate Corp now owns 24,497 shares of the company's stock worth $5,374,000 after buying an additional 12,724 shares in the last quarter. TimesSquare Capital Management LLC grew its position in Snowflake by 86.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 209,653 shares of the company's stock valued at $45,989,000 after buying an additional 97,128 shares during the period. William Blair Investment Management LLC grew its position in Snowflake by 159.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company's stock valued at $295,477,000 after buying an additional 828,789 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in Snowflake in the second quarter valued at $1,399,000. Hedge funds and other institutional investors own 65.10% of the company's stock.
More Snowflake News
Here are the key news stories impacting Snowflake this week:
- Positive Sentiment: Accelerating growth and strong guidance: Snowflake reported 37% year-over-year product-revenue growth, a 126% net revenue retention rate, and quarterly revenue and adjusted EPS above consensus expectations. The company also raised guidance, reinforcing expectations for continued growth. Snowflake: Blowout Guidance, Growth Acceleration, High Margin Play On AI
- Positive Sentiment: AI is becoming a growth catalyst: Management says customers are increasingly paying for additional AI services, creating a potential “flywheel” of greater data usage and consumption. Demand for Cortex AI and other high-margin offerings is supporting the bullish case for Snowflake’s cloud analytics expansion. Snowflake CEO: AI is unleashing a flywheel effect on our business
- Positive Sentiment: Investor focus remains favorable: Commentary on the AI trade highlighted Snowflake’s accelerating cloud consumption and software economics, while contrasting its performance with pullbacks in some AI hardware names. Snowflake’s enterprise adoption also strengthens its competitive positioning against Dell Technologies and Oracle. What Investors Need To Understand About Broadcom, Credo and Snowflake Earnings
- Neutral Sentiment: Snowflake executives continued outlining how software companies can adapt to the AI era at recent media appearances and the Goldman Sachs Communacopia + Technology Conference. These discussions provided strategic context but introduced no major new financial disclosure. Snowflake Communacopia Conference Transcript
- Negative Sentiment: Valuation risk is significant: Despite improving growth, Snowflake’s shares trade at a very demanding multiple—reported at roughly 152 times expected fiscal 2027 earnings—leaving the stock vulnerable if growth or AI monetization slows. Snowflake's Growth Is Accelerating. So Is the Valuation Risk
- Negative Sentiment: Director sale adds a signaling concern: Director Michael Speiser sold approximately 50,741 shares for about $18.0 million, reducing his reported holdings substantially. The transactions occurred under a pre-arranged Rule 10b5-1 plan, which makes them less indicative of a discretionary bearish view, but the size may still weigh on sentiment. SEC insider transaction filing
Analysts Set New Price Targets
A number of research analysts have recently weighed in on SNOW shares. Stifel Nicolaus raised their price objective on Snowflake from $350.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Mizuho set a $425.00 price target on shares of Snowflake in a research report on Thursday, September 3rd. Raymond James Financial upped their price objective on Snowflake from $275.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Truist Financial set a $425.00 target price on shares of Snowflake and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Monness Crespi & Hardt raised their price target on Snowflake from $380.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Thirty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $414.24.
Check Out Our Latest Report on Snowflake
Snowflake Company Profile
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Snowflake Inc (NYSE: SNOW) is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.
Snowflake's Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake's marketplace and partner ecosystem.
Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.
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