Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli Sells 400,000 Shares

Snowflake Inc. (NYSE:SNOW - Get Free Report) CFO Michael Scarpelli sold 400,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Scarpelli also recently made the following trade(s):

• On Tuesday, March 25th, Michael Scarpelli sold 300,000 shares of Snowflake stock. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00.

Snowflake Trading Up 1.7%

Shares of NYSE:SNOW traded up $3.38 during trading on Friday, reaching $205.69. The company's stock had a trading volume of 7,073,445 shares, compared to its average volume of 6,465,363. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $68.67 billion, a PE ratio of -60.68 and a beta of 1.11. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $209.80. The firm's 50 day simple moving average is $163.63 and its two-hundred day simple moving average is $166.35.

Snowflake (NYSE:SNOW - Get Free Report) last announced 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. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. On average, research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Institutional Trading of Snowflake

Several institutional investors have recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the first quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $29,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the period. West Paces Advisors Inc. purchased a new stake in Snowflake in the fourth quarter valued at $31,000. Finally, Spurstone Advisory Services LLC purchased a new stake in Snowflake in the fourth quarter valued at $31,000. Institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research report on Monday, May 19th. Royal Bank of Canada set a $236.00 price target on Snowflake and gave the company an "outperform" rating in a report on Thursday, May 22nd. Oppenheimer reissued an "outperform" rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a report on Thursday, May 22nd. Wells Fargo & Company restated an "overweight" rating and issued a $225.00 price objective (up from $200.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Bank of America upped their price objective on Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $217.33.

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.