Snowflake (NYSE:SNOW) Director Sells $25,147,827.00 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 99,900 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $251.73, for a total transaction of $25,147,827.00. Following the completion of the transaction, the director directly owned 28,535 shares of the company’s stock, valued at approximately $7,183,115.55. The trade was a 77.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 26th, Frank Slootman sold 100 shares of Snowflake stock. The stock was sold at an average price of $250.00, for a total transaction of $25,000.00.
• On Thursday, June 18th, Frank Slootman sold 200,000 shares of Snowflake stock. The stock was 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 Price Performance

Snowflake stock opened at $259.67 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $90.00 billion, a PE ratio of -73.77 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The stock has a 50-day moving average price of $202.78 and a two-hundred day moving average price of $190.46.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Institutional Trading of Snowflake

Institutional investors have recently added to or reduced their stakes in the stock. CX Institutional increased its position in Snowflake by 47.8% during the 2nd quarter. CX Institutional now owns 1,076 shares of the company’s stock valued at $274,000 after purchasing an additional 348 shares during the period. Basecamp Wealth Advisors LLC lifted its position in shares of Snowflake by 140.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock worth $30,000 after purchasing an additional 118 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Snowflake by 28.5% in the 1st quarter. Pacer Advisors Inc. now owns 43,607 shares of the company’s stock valued at $6,577,000 after purchasing an additional 9,684 shares during the last quarter. Wealth High Governance Capital Ltda bought a new stake in shares of Snowflake in the 1st quarter valued at $2,112,000. Finally, Wealth High Governance Asset Management Ltda. bought a new stake in shares of Snowflake in the 1st quarter valued at $1,808,000. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNOW has been the topic of a number of research reports. Sanford C. Bernstein boosted their target price on shares of Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Evercore set a $200.00 price target on shares of Snowflake in a research note on Tuesday, April 14th. TD Cowen reiterated a “buy” rating and set a $300.00 price target on shares of Snowflake in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company boosted 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. One research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target 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.