Snowflake (NYSE:SNOW) Director Frank Slootman Sells 289,685 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 289,685 shares of Snowflake stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $274.39, for a total value of $79,486,667.15. Following the completion of the sale, the director directly owned 28,535 shares in the company, valued at $7,829,718.65. This represents a 91.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 value of $2,837,656.50.
• 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 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 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 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 stock was 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 transaction 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 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 transaction 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 transaction of $25,378,842.50.

Snowflake Stock Performance

Shares of SNOW opened at $269.83 on Wednesday. The stock has a market capitalization of $93.52 billion, a price-to-earnings ratio of -76.66 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 firm has a fifty day simple moving average of $243.29 and a 200 day simple moving average of $195.70. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18.

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, beating 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 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 business earned $0.24 EPS. The company’s revenue was up 33.5% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNOW. HHM Wealth Advisors LLC boosted its position in Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. United Asset Strategies Inc. increased its holdings in shares of Snowflake by 1.4% during the 4th quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock valued at $777,000 after purchasing an additional 50 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. ORG Partners LLC boosted its holdings 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 in the last quarter. Finally, Beaumont Financial Advisors LLC boosted its holdings in 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNOW. Stifel Nicolaus upped their target price on Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Piper Sandler raised their price target on Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Oppenheimer boosted their price target on Snowflake from $250.00 to $295.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Mizuho upped their price objective on Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. 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 investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.