Snowflake Inc. (NYSE:SNOW) Director Sells $22,462,974.65 in Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 100,483 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $223.55, for a total value of $22,462,974.65. Following the sale, the director owned 165,507 shares of the company's stock, valued at approximately $36,999,089.85. The trade was a 37.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, July 7th, Frank Slootman sold 323,713 shares of Snowflake stock. The stock was sold at an average price of $223.19, for a total value of $72,249,504.47.
• On Wednesday, July 2nd, Frank Slootman sold 187,815 shares of Snowflake stock. The stock was sold at an average price of $216.55, for a total value of $40,671,338.25.
• On Thursday, July 3rd, Frank Slootman sold 178,949 shares of Snowflake stock. The stock was sold at an average price of $221.16, for a total transaction of $39,576,360.84.
• On Monday, June 30th, Frank Slootman sold 217,432 shares of Snowflake stock. The stock was sold at an average price of $223.78, for a total transaction of $48,656,932.96.
• On Tuesday, July 1st, Frank Slootman sold 294,125 shares of Snowflake stock. The shares were sold at an average price of $217.29, for a total value of $63,910,421.25.
• On Friday, June 27th, Frank Slootman sold 306,502 shares of Snowflake stock. The shares were sold at an average price of $222.46, for a total value of $68,184,434.92.
• On Thursday, June 26th, Frank Slootman sold 424,852 shares of Snowflake stock. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20.
• On Tuesday, June 17th, Frank Slootman sold 7,294 shares of Snowflake stock. The stock was sold at an average price of $208.00, for a total transaction of $1,517,152.00.
• On Tuesday, June 10th, Frank Slootman sold 1,859 shares of Snowflake stock. The stock was sold at an average price of $209.96, for a total transaction of $390,315.64.

Snowflake Stock Performance

Shares of NYSE:SNOW traded down $7.61 on Thursday, hitting $214.29. 4,794,663 shares of the company were exchanged, compared to its average volume of 6,024,633. The company's 50 day moving average price is $202.68 and its two-hundred day moving average price is $176.69. Snowflake Inc. has a one year low of $107.13 and a one year high of $226.60. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $71.54 billion, a price-to-earnings ratio of -50.90 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business's revenue was up 25.8% compared to the same quarter last year. Research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock worth $3,974,705,000 after purchasing an additional 316,573 shares during the period. Norges Bank bought a new position in shares of Snowflake during the 4th quarter worth about $988,950,000. FMR LLC boosted its position in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Snowflake during the 4th quarter valued at about $750,572,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Snowflake by 19.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock valued at $691,693,000 after acquiring an additional 763,673 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNOW shares. Royal Bank Of Canada raised their target price on shares of Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Daiwa Capital Markets started coverage on shares of Snowflake in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Monness Crespi & Hardt raised their target price on shares of Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Mizuho raised their target price on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $225.36.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.