Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 7,294 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 7,294 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $208.00, for a total value of $1,517,152.00. Following the completion of the transaction, the director now directly owns 170,718 shares in the company, valued at approximately $35,509,344. This represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, June 10th, Frank Slootman sold 1,859 shares of Snowflake stock. The stock was sold at an average price of $209.96, for a total value of $390,315.64.

Snowflake Stock Performance

NYSE:SNOW opened at $211.89 on Friday. The stock has a market cap of $70.74 billion, a P/E ratio of -50.33 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $181.78 and its two-hundred day moving average price is $171.80. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $214.83.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $0.14 earnings per share. Snowflake’s quarterly revenue was up 25.8% on a year-over-year basis. As a group, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on SNOW shares. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Royal Bank Of Canada raised their price target on shares of Snowflake from $236.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Snowflake in a research note on Thursday, May 22nd. JMP Securities reissued a “market outperform” rating and issued a $245.00 target price on shares of Snowflake in a research report on Wednesday, June 4th. Finally, Hsbc Global Res lowered Snowflake from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.50.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC grew its position in Snowflake by 10.6% in the first quarter. Voya Investment Management LLC now owns 1,023,844 shares of the company’s stock worth $149,645,000 after acquiring an additional 98,027 shares in the last quarter. Inspire Investing LLC lifted its stake in Snowflake by 23.4% during the first quarter. Inspire Investing LLC now owns 2,066 shares of the company’s stock worth $302,000 after purchasing an additional 392 shares during the last quarter. Strs Ohio purchased a new position in shares of Snowflake in the 1st quarter worth about $10,209,000. SWS Partners increased its position in shares of Snowflake by 2.5% during the 1st quarter. SWS Partners now owns 20,683 shares of the company’s stock valued at $3,023,000 after purchasing an additional 507 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.