Frank Slootman Sells 187,815 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 187,815 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $216.55, for a total value of $40,671,338.25. Following the transaction, the director owned 165,507 shares of the company's stock, valued at $35,840,540.85. This trade represents a 53.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Tuesday, July 8th, Frank Slootman sold 100,483 shares of Snowflake stock. The stock was sold at an average price of $223.55, for a total value of $22,462,974.65.
• 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 value 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 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 stock was 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 stock was 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 Down 3.4%

Shares of SNOW stock traded down $7.61 during midday trading on Thursday, reaching $214.29. 4,794,663 shares of the stock were exchanged, compared to its average volume of 6,024,633. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $226.60. The company's 50 day moving average is $201.70 and its two-hundred day moving average is $176.33. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market cap of $71.54 billion, a PE ratio of -50.90 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SNOW. Daiwa Capital Markets began coverage on Snowflake in a report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target for the company. Raymond James Financial reiterated an "outperform" rating and set a $212.00 price target (up from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Macquarie increased their price target on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Wells Fargo & Company reiterated an "overweight" rating and set a $250.00 price target (up from $225.00) on shares of Snowflake in a research report on Friday, June 13th. Finally, Mizuho raised their target price on Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.36.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in SNOW. Norges Bank bought a new position in Snowflake in the 4th quarter valued at approximately $988,950,000. GQG Partners LLC bought a new position in Snowflake in the 4th quarter valued at approximately $750,572,000. Nuveen LLC bought a new position in Snowflake in the 1st quarter valued at approximately $555,847,000. FMR LLC lifted its position in Snowflake by 84.9% in 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. Finally, AQR Capital Management LLC lifted its position in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock valued at $456,430,000 after acquiring an additional 2,460,769 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

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.