Frank Slootman Sells 99,900 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 99,900 shares of the firm’s stock in a transaction dated 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 sale, the director owned 28,535 shares of the company’s stock, valued at approximately $7,183,115.55. This represents a 77.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 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 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 transaction 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 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 transaction of $25,378,842.50.

Snowflake Trading Down 0.6%

Shares of SNOW 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. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The stock’s 50-day moving average price is $200.69 and its 200-day moving average price is $189.97. The stock has a market capitalization of $90.00 billion, a price-to-earnings ratio of -73.77 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its 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. The firm had revenue of $1.39 billion for 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%. The business’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. Equities research analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CX Institutional raised its stake in Snowflake by 47.8% in 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 last quarter. Basecamp Wealth Advisors LLC raised its position 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 period. Pacer Advisors Inc. raised its position in Snowflake by 28.5% in the first 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 period. Wealth High Governance Capital Ltda acquired a new position in Snowflake in the first quarter valued at about $2,112,000. Finally, Wealth High Governance Asset Management Ltda. acquired a new position in shares of Snowflake in the 1st quarter worth approximately $1,808,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the topic of several recent analyst reports. Barclays increased their price target on Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Oppenheimer boosted their price target on shares of Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. DA Davidson upped their price objective on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Benchmark increased their target price on shares of Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, BTIG Research increased their price target on Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $293.53.

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.