Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 1,859 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,859 shares of Snowflake stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $209.96, for a total value of $390,315.64. Following the transaction, the director now owns 180,229 shares in the company, valued at approximately $37,840,880.84. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Frank Slootman also recently made the following trade(s):

• On Tuesday, March 18th, Frank Slootman sold 7,016 shares of Snowflake stock. The shares were sold at an average price of $155.69, for a total value of $1,092,321.04.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $210.88 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $214.83. The business has a fifty day simple moving average of $175.03 and a 200 day simple moving average of $170.52. The firm has a market cap of $70.41 billion, a price-to-earnings ratio of -62.21 and a beta of 1.21.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.14 earnings per share. Snowflake’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. Opal Wealth Advisors LLC purchased a new stake in shares of Snowflake during the first quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter worth about $29,000. CVA Family Office LLC lifted its position in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake in the fourth quarter worth about $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SNOW shares. Jefferies Financial Group lifted their price target on Snowflake from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Oppenheimer lifted their price target on Snowflake from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 6th. Cantor Fitzgerald lifted their price target on Snowflake from $183.00 to $242.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Finally, BTIG Research reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.81.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its 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 and data products, as well as applies artificial intelligence (AI) for solving business problems.