Snowflake (NYSE:SNOW) PT Lowered to $195.00 at Loop Capital

Snowflake (NYSE:SNOW – Get Rating) had its price target trimmed by Loop Capital from $200.00 to $195.00 in a research report released on Thursday morning, The Fly reports.

A number of other equities research analysts have also recently issued reports on SNOW. Barclays dropped their price objective on Snowflake from $171.00 to $165.00 in a research note on Thursday. Wells Fargo & Company increased their price target on Snowflake from $170.00 to $200.00 in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on Snowflake from $180.00 to $165.00 and set an overweight rating on the stock in a research note on Thursday, March 2nd. Citigroup dropped their price target on Snowflake from $225.00 to $202.00 and set a buy rating on the stock in a research note on Friday, March 3rd. Finally, StockNews.com initiated coverage on Snowflake in a research note on Thursday, May 18th. They issued a sell rating on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $184.54.

Snowflake Trading Down 16.5 %

Shares of Snowflake stock opened at $147.91 on Thursday. Snowflake has a 12-month low of $110.26 and a 12-month high of $205.66. The business’s 50 day moving average is $151.30 and its 200-day moving average is $147.97.

Snowflake (NYSE:SNOW – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). Snowflake had a negative return on equity of 14.72% and a negative net margin of 37.78%. The company had revenue of $589.01 million for the quarter, compared to the consensus estimate of $571.57 million. On average, equities research analysts expect that Snowflake will post -1.63 EPS for the current year.

Insider Transactions at Snowflake

In other news, CEO Frank Slootman sold 1,701 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $141.38, for a total transaction of $240,487.38. Following the completion of the transaction, the chief executive officer now directly owns 130,241 shares in the company, valued at $18,413,472.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, CEO Frank Slootman sold 1,701 shares of Snowflake stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the completion of the sale, the chief executive officer now directly owns 130,241 shares in the company, valued at $18,413,472.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dennis Mcmahon sold 1,000 shares of Snowflake stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $142.65, for a total value of $142,650.00. Following the completion of the sale, the director now owns 154,902 shares of the company’s stock, valued at $22,096,770.30. The disclosure for this sale can be found here. Insiders sold 309,301 shares of company stock worth $44,133,577 over the last ninety days. 8.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Snowflake in the 4th quarter valued at $477,435,000. BlackRock Inc. lifted its position in shares of Snowflake by 25.7% during the 3rd quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock valued at $2,136,029,000 after buying an additional 2,569,953 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Snowflake during the 1st quarter valued at $311,427,000. Vanguard Group Inc. lifted its position in shares of Snowflake by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock valued at $2,939,269,000 after buying an additional 1,327,410 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Snowflake by 30.6% during the 3rd quarter. State Street Corp now owns 5,657,938 shares of the company’s stock valued at $961,623,000 after buying an additional 1,324,033 shares during the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

About Snowflake

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of sizes in a range of industries.