Frank Slootman Sells 178,949 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 178,949 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $221.16, for a total value of $39,576,360.84. Following the completion of the sale, the director directly owned 165,507 shares of the company's stock, valued at $36,603,528.12. The trade was a 51.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, July 2nd, Frank Slootman sold 187,815 shares of Snowflake stock. The shares were sold at an average price of $216.55, for a total value of $40,671,338.25.
• On Monday, June 30th, Frank Slootman sold 217,432 shares of Snowflake stock. The shares were sold at an average price of $223.78, for a total value 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 shares were sold at an average price of $208.00, for a total value of $1,517,152.00.
• On Tuesday, June 10th, Frank Slootman sold 1,859 shares of Snowflake stock. The shares were sold at an average price of $209.96, for a total value of $390,315.64.

Snowflake Stock Up 1.9%

NYSE:SNOW traded up $4.22 during mid-day trading on Monday, hitting $225.71. The company had a trading volume of 4,050,673 shares, compared to its average volume of 6,048,779. The business has a fifty day simple moving average of $197.86 and a 200-day simple moving average of $175.27. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $225.83. The firm has a market capitalization of $75.36 billion, a price-to-earnings ratio of -53.61 and a beta of 1.22.

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

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Asset Advisory Services LLC purchased a new stake in shares of Snowflake during the second quarter worth about $297,000. Modus Advisors LLC purchased a new stake in shares of Snowflake during the second quarter worth about $282,000. OMNI 360 Wealth Inc. increased its position in shares of Snowflake by 43.2% during the second quarter. OMNI 360 Wealth Inc. now owns 3,310 shares of the company's stock worth $741,000 after acquiring an additional 998 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of Snowflake by 145.2% during the second quarter. Harbor Investment Advisory LLC now owns 4,117 shares of the company's stock worth $921,000 after acquiring an additional 2,438 shares during the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Snowflake during the second quarter worth about $676,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the subject of several analyst reports. Jefferies Financial Group upped their price objective on Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Mizuho boosted their target price on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley assumed coverage on Snowflake in a research report on Tuesday, June 24th. They set an "overweight" rating and a $262.00 target price on the stock. Stifel Nicolaus boosted their target price on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Citigroup reiterated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average price target of $225.36.

About Snowflake

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.

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