Snowflake (NYSE:SNOW) Director Sells 10,315 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 10,315 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $275.10, for a total transaction of $2,837,656.50. Following the transaction, the director directly owned 28,535 shares of the company’s stock, valued at $7,849,978.50. This represents a 26.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 20th, Frank Slootman sold 289,685 shares of Snowflake stock. The stock was sold at an average price of $274.39, for a total value of $79,486,667.15.
• On Monday, June 29th, Frank Slootman sold 99,900 shares of Snowflake stock. The stock was sold at an average price of $251.73, for a total value of $25,147,827.00.
• On Friday, June 26th, Frank Slootman sold 100 shares of Snowflake stock. The shares were sold at an average price of $250.00, for a total value of $25,000.00.
• 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 value 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 value 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 stock was 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 shares were 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 shares were 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 Performance

Shares of Snowflake stock traded up $2.79 during trading on Tuesday, hitting $275.71. 2,305,468 shares of the company’s stock traded hands, compared to its average volume of 7,076,627. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The business has a 50-day simple moving average of $241.28 and a 200-day simple moving average of $195.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $95.56 billion, a P/E ratio of -78.48 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. As a group, analysts forecast that Snowflake Inc. will post -1.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC boosted its stake in shares of Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the period. United Asset Strategies Inc. lifted its holdings in Snowflake by 1.4% in the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after purchasing an additional 50 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. ORG Partners LLC boosted its stake in Snowflake by 3.3% in the 4th quarter. ORG Partners LLC now owns 1,796 shares of the company’s stock worth $394,000 after purchasing an additional 58 shares during the period. Finally, Beaumont Financial Advisors LLC grew its holdings in Snowflake by 4.7% during the 4th quarter. Beaumont Financial Advisors LLC now owns 1,312 shares of the company’s stock valued at $288,000 after buying an additional 59 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating and set a $275.00 price objective on shares of Snowflake in a research report on Thursday, May 28th. Bank of America raised their target price on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Truist Financial upped their price target on shares of Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Wells Fargo & Company increased their price objective on shares of Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Thirty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.27.

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.