Snowflake (NYSE:SNOW) Director Frank Slootman Sells 7,551 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 7,551 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the transaction, the director owned 153,226 shares in the company, valued at $33,899,720.24. The trade was a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, September 9th, Frank Slootman sold 1,938 shares of Snowflake stock. The shares were sold at an average price of $223.86, for a total value of $433,840.68.
• On Thursday, August 28th, Frank Slootman sold 710,083 shares of Snowflake stock. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01.
• On Thursday, July 31st, Frank Slootman sold 256,046 shares of Snowflake stock. The shares were sold at an average price of $227.15, for a total value of $58,160,848.90.
• On Monday, July 7th, Frank Slootman sold 323,713 shares of Snowflake stock. The stock was sold at an average price of $223.19, for a total transaction of $72,249,504.47.
• On Tuesday, July 8th, Frank Slootman sold 100,483 shares of Snowflake stock. The stock was sold at an average price of $223.55, for a total value of $22,462,974.65.
• On Wednesday, July 2nd, Frank Slootman sold 187,815 shares of Snowflake stock. The stock was sold at an average price of $216.55, for a total value of $40,671,338.25.
• On Thursday, July 3rd, Frank Slootman sold 178,949 shares of Snowflake stock. The shares were sold at an average price of $221.16, for a total transaction of $39,576,360.84.
• On Monday, June 30th, Frank Slootman sold 217,432 shares of Snowflake stock. The shares were sold at an average price of $223.78, for a total value of $48,656,932.96.
• On Tuesday, July 1st, Frank Slootman sold 294,125 shares of Snowflake stock. The shares were sold at an average price of $217.29, for a total transaction of $63,910,421.25.
• On Friday, June 27th, Frank Slootman sold 306,502 shares of Snowflake stock. The shares were sold at an average price of $222.46, for a total transaction of $68,184,434.92.

Snowflake Price Performance

NYSE:SNOW opened at $217.97 on Thursday. The stock has a fifty day moving average of $212.61 and a 200 day moving average of $189.92. The firm has a market capitalization of $73.85 billion, a price-to-earnings ratio of -52.52 and a beta of 1.22. Snowflake Inc. has a 52-week low of $108.71 and a 52-week high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. On average, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNOW. Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and increased their price objective for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. Canaccord Genuity Group boosted their price target on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Raymond James Financial increased their target price on Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Macquarie increased their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Finally, Barclays raised their target price on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SNOW. Capital Advantage Inc. lifted its position in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after buying an additional 48 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Snowflake by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after purchasing an additional 48 shares during the last quarter. Avion Wealth increased its stake in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares during the period. Insigneo Advisory Services LLC grew its holdings in Snowflake by 1.3% during the second quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock worth $896,000 after acquiring an additional 52 shares during the period. Finally, Advyzon Investment Management LLC increased its holdings in Snowflake by 3.8% in the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock valued at $340,000 after buying an additional 55 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.