Snowflake (NYSE:SNOW) Director Sells 289,685 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 289,685 shares of Snowflake stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $274.39, for a total transaction of $79,486,667.15. Following the completion of the transaction, the director directly owned 28,535 shares in the company, valued at approximately $7,829,718.65. The trade was a 91.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Tuesday, July 21st, Frank Slootman sold 10,315 shares of Snowflake stock. The shares were sold at an average price of $275.10, for a total transaction of $2,837,656.50.
• On Monday, June 29th, Frank Slootman sold 99,900 shares of Snowflake stock. The shares were sold at an average price of $251.73, for a total transaction 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 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 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 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 shares were sold at an average price of $175.45, for a total value of $25,378,842.50.

Snowflake Stock Up 1.0%

Snowflake stock traded up $2.79 during midday trading on Tuesday, reaching $275.71. The company’s stock had a trading volume of 2,305,468 shares, compared to its average volume of 7,076,627. The stock’s 50-day simple moving average is $241.28 and its 200-day simple moving average is $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. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. 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 released its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. On average, sell-side analysts expect that Snowflake Inc. will post -1.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SNOW shares. Truist Financial boosted their price objective on shares of Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft raised their target price on Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Scotiabank boosted their price target on Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a research note on Monday, June 8th. Evercore set a $200.00 price target on Snowflake in a research note on Tuesday, April 14th. Finally, Bank of America increased their price objective on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Thirty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.27.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Kemnay Advisory Services Inc. acquired a new position in Snowflake during the fourth quarter valued at $28,000. Greenline Wealth Management LLC acquired a new stake in Snowflake during the 4th quarter worth about $29,000. Basecamp Wealth Advisors LLC raised its stake in shares of Snowflake by 140.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $30,000 after buying an additional 118 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in shares of Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares during the last quarter. Finally, Emerald Advisers LLC lifted its holdings in shares of Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company’s stock valued at $31,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

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.