Insider Selling: Snowflake (NYSE:SNOW) Director Sells 100 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 100 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $250.00, for a total transaction of $25,000.00. Following the completion of the sale, the director directly owned 28,535 shares of the company’s stock, valued at $7,133,750. The trade was a 0.35% decrease in their position. The transaction was disclosed in a 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.

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

• On Thursday, June 18th, Frank Slootman sold 200,000 shares of Snowflake stock. The shares were sold at an average price of $224.27, for a total transaction of $44,854,000.00.
• On Tuesday, June 16th, Frank Slootman sold 8,066 shares of Snowflake stock. The stock was sold at an average price of $240.00, for a total transaction of $1,935,840.00.
• 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 value of $42,963,058.80.
• On Friday, May 29th, Frank Slootman sold 437,076 shares of Snowflake stock. The shares were sold at an average price of $252.43, for a total value 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 value 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 value 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 value of $25,378,842.50.

Snowflake Stock Up 0.6%

Shares of SNOW stock traded up $1.43 during trading hours on Monday, reaching $250.39. The company had a trading volume of 8,377,553 shares, compared to its average volume of 7,532,520. The company has a market capitalization of $86.79 billion, a P/E ratio of -71.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99. The stock’s fifty day simple moving average is $191.99 and its 200 day simple moving average is $188.94.

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

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. Assetmark Inc. increased its stake in Snowflake by 99.1% during the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after purchasing an additional 98,870 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at about $116,882,000. Swedbank AB boosted its holdings in shares of Snowflake by 6.0% in the 4th quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock valued at $291,840,000 after buying an additional 75,419 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Snowflake by 8.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 144,234 shares of the company’s stock valued at $31,639,000 after buying an additional 10,972 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Citizens Jmp reiterated a “market outperform” rating and issued a $325.00 price objective on shares of Snowflake in a report on Tuesday, May 19th. Royal Bank Of Canada raised their target price on Snowflake from $220.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Monness Crespi & Hardt lifted their target price on Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Needham & Company LLC boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $293.53.

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.