Frank Slootman Sells 424,852 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 424,852 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the sale, the director owned 165,507 shares in the company, valued at $36,303,960.45. The trade was a 71.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $68,184,434.92.
• 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 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

SNOW stock traded up $0.92 during mid-day trading on Monday, reaching $223.53. 3,491,230 shares of the stock traded hands, compared to its average volume of 6,091,418. Snowflake Inc. has a one year low of $107.13 and a one year high of $225.68. 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 business has a 50-day moving average price of $190.70 and a two-hundred day moving average price of $173.44.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating 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 analysts' expectations of $1.01 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The company's quarterly revenue was up 25.8% on a year-over-year basis. As a group, analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. ORG Wealth Partners LLC bought a new stake in Snowflake during the 1st quarter valued at about $898,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Snowflake by 455.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock valued at $19,174,000 after purchasing an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Snowflake in the fourth quarter worth approximately $3,088,000. Deutsche Bank AG increased its holdings in Snowflake by 26.0% during the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after purchasing an additional 190,583 shares during the period. Finally, Ardmore Road Asset Management LP bought a new stake in Snowflake during the 4th quarter valued at $18,529,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SNOW shares. Citigroup reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Macquarie increased their target price on Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. CICC Research initiated coverage on Snowflake in a research note on Friday, June 20th. They issued an "outperform" rating and a $225.00 price target for the company. JPMorgan Chase & Co. upped their price target on Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Finally, Barclays reiterated an "overweight" rating and issued a $219.00 price objective (up from $203.00) on shares of Snowflake in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.22.

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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