Snowflake (NYSE:SNOW) Director Frank Slootman Sells 8,066 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 8,066 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total transaction of $1,935,840.00. Following the transaction, the director owned 28,535 shares in the company, valued at $6,848,400. The trade was a 22.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, June 1st, Frank Slootman sold 162,924 shares of Snowflake stock. The shares were sold at an average price of $263.70, for a total transaction of $42,963,058.80.
• On Friday, May 29th, Frank Slootman sold 437,076 shares of Snowflake stock. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68.
• On Thursday, May 28th, Frank Slootman sold 400,000 shares of Snowflake stock. The stock was sold at an average price of $233.42, for a total transaction of $93,368,000.00.
• On Tuesday, May 26th, Frank Slootman sold 55,350 shares of Snowflake stock. The stock was sold at an average price of $176.52, for a total transaction of $9,770,382.00.
• On Tuesday, May 19th, Frank Slootman sold 144,650 shares of Snowflake stock. The stock was sold at an average price of $175.45, for a total transaction of $25,378,842.50.
• On Thursday, March 19th, Frank Slootman sold 11,299 shares of Snowflake stock. The stock was sold at an average price of $175.25, for a total transaction of $1,980,149.75.

Snowflake Trading Down 1.7%

Shares of Snowflake stock traded down $4.08 on Wednesday, hitting $234.24. The stock had a trading volume of 6,148,735 shares, compared to its average volume of 10,591,309. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The stock has a market cap of $81.19 billion, a price-to-earnings ratio of -66.55 and a beta of 1.35. The stock’s 50-day simple moving average is $178.86 and its two-hundred day simple moving average is $189.60.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts predict that Snowflake Inc. will post -1.87 EPS for the current year.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research note on Wednesday, February 18th. Morgan Stanley raised their price target on Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Zacks Research raised Snowflake from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Needham & Company LLC raised their price target on Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Mizuho raised their price target on Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $291.77.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Brighton Jones LLC lifted its position in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after buying an additional 29,320 shares during the period. Intech Investment Management LLC lifted its position in Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after buying an additional 2,167 shares during the period. Geneos Wealth Management Inc. lifted its position in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares during the period. Flow Traders U.S. LLC purchased a new position in Snowflake during the second quarter valued at $221,000. Finally, The Manufacturers Life Insurance Company lifted its position in Snowflake by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after buying an additional 1,521 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.