Snowflake (NYSE:SNOW) Director Frank Slootman Sells 10,315 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 10,315 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was 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. The trade was a 26.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Monday, July 20th, Frank Slootman sold 289,685 shares of Snowflake stock. The shares were sold at an average price of $274.39, for a total transaction of $79,486,667.15.
• 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 value of $25,147,827.00.
• 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 value 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 value of $44,854,000.00.
• On Tuesday, June 16th, Frank Slootman sold 8,066 shares of Snowflake stock. The shares were 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 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 shares were sold at an average price of $175.45, for a total value of $25,378,842.50.

Snowflake Stock Performance

NYSE SNOW opened at $269.83 on Wednesday. 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 company has a market cap of $93.52 billion, a P/E ratio of -76.66 and a beta of 1.35. The stock has a 50-day moving average of $243.29 and a two-hundred day moving average of $195.70. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99.

Snowflake (NYSE:SNOW) last issued its quarterly 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 business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, analysts anticipate that Snowflake Inc. will post -1.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNOW. Oppenheimer raised their price target on shares of Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Royal Bank Of Canada upped their price objective on Snowflake from $284.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Rosenblatt Securities increased their price objective on Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Truist Financial lifted their target price on Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Benchmark lifted their target price on Snowflake from $200.00 to $270.00 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $296.27.

Institutional Investors Weigh In On Snowflake

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

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.