Frank Slootman Sells 323,713 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 323,713 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $223.19, for a total transaction of $72,249,504.47. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at $36,939,507.33. This trade represents a 66.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, July 8th, Frank Slootman sold 100,483 shares of Snowflake stock. The shares were sold at an average price of $223.55, for a total value of $22,462,974.65.
• 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 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 transaction of $48,656,932.96.
• On Tuesday, July 1st, Frank Slootman sold 294,125 shares of Snowflake stock. The stock was sold at an average price of $217.29, for a total transaction 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 transaction 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 transaction 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 Trading Down 1.8%

NYSE SNOW traded down $3.78 during mid-day trading on Friday, hitting $210.64. The company's stock had a trading volume of 3,867,733 shares, compared to its average volume of 6,016,042. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The stock's fifty day simple moving average is $202.68 and its two-hundred day simple moving average is $176.69. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $70.32 billion, a P/E ratio of -50.03 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. Research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on SNOW shares. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Macquarie upped their target price on shares of Snowflake from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Cantor Fitzgerald upped their target price on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Two equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.36.

Institutional Trading of Snowflake

Hedge funds have recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Snowflake in the first quarter worth $26,000. CVA Family Office LLC boosted its holdings in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. acquired a new position in Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake in the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

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.