Insider Selling: Snowflake (NYSE:SNOW) Director Sells 162,924 Shares of Stock

Key Points

• Snowflake director Frank Slootman sold 162,924 shares on June 1 at an average price of $263.70, generating about $43.0 million. The sale reduced his ownership by roughly 81% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Slootman has been aggressively selling shares recently, including multiple large transactions in late May that totaled well over $200 million. The article also notes another director, Mark Garrett, has sold shares, adding to insider-selling pressure.
• Despite the insider sales, Snowflake posted strong quarterly results and has upbeat Wall Street support, with revenue and earnings topping expectations and analysts largely maintaining Buy ratings. The stock remains volatile, however, trading near $241.88 after a sharp drop on the day cited in the report.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 162,924 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $263.70, for a total transaction of $42,963,058.80. Following the transaction, the director owned 38,046 shares in the company, valued at approximately $10,032,730.20. This trade represents a 81.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 29th, Frank Slootman sold 437,076 shares of Snowflake stock. The shares were sold at an average price of $252.43, for a total transaction of $110,331,094.68.
• On Thursday, May 28th, Frank Slootman sold 400,000 shares of Snowflake stock. The shares were sold at an average price of $233.42, for a total transaction of $93,368,000.00.
• On Tuesday, May 26th, Frank Slootman sold 55,350 shares of Snowflake stock. The shares were sold at an average price of $176.52, for a total transaction of $9,770,382.00.
• On Tuesday, May 19th, Frank Slootman sold 144,650 shares of Snowflake stock. The shares were sold at an average price of $175.45, for a total transaction of $25,378,842.50.
• On Wednesday, March 18th, Frank Slootman sold 88,701 shares of Snowflake stock. The shares were sold at an average price of $175.93, for a total transaction of $15,605,166.93.
• On Thursday, March 19th, Frank Slootman sold 11,299 shares of Snowflake stock. The shares were sold at an average price of $175.25, for a total transaction of $1,980,149.75.
• On Tuesday, March 17th, Frank Slootman sold 7,874 shares of Snowflake stock. The shares were sold at an average price of $175.34, for a total transaction of $1,380,627.16.
• On Tuesday, March 10th, Frank Slootman sold 2,042 shares of Snowflake stock. The shares were sold at an average price of $182.44, for a total transaction of $372,542.48.

Snowflake Stock Performance

Shares of SNOW stock traded down $19.26 during trading on Wednesday, reaching $241.88. 11,316,309 shares of the company's stock traded hands, compared to its average volume of 11,076,119. The company has a market capitalization of $83.62 billion, a P/E ratio of -68.72 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18. The firm's 50-day moving average is $162.02 and its 200 day moving average is $190.30. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake's revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Equities research analysts expect that Snowflake Inc. will post -2.15 EPS for the current year.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake used its Summit 26 event to showcase major AI product launches and governance upgrades, including Horizon Context, CoWork enhancements, and Datastream, reinforcing its position as a platform for production-grade enterprise AI. Snowflake Summit 26 Puts Governed Enterprise AI At Center Stage
• Positive Sentiment: Snowflake announced deeper partnerships and ecosystem integrations with Anthropic, Cognizant, Collibra, Ataccama, RelationalAI, ThoughtSpot, and others, suggesting growing enterprise adoption of its AI data cloud. Snowflake and Anthropic Accelerate Enterprise AI Adoption Driven by Rising Demand for Governed AI
• Positive Sentiment: Multiple analysts raised targets or reiterated bullish ratings, including UBS, Piper Sandler, Needham, BTIG, TD Cowen, and Scotiabank, which can support the stock by signaling stronger long-term revenue and earnings expectations.
• Positive Sentiment: Customer and partner announcements from companies like Sanofi, Thomson Reuters, TransUnion, NIQ, and Blue Yonder highlight real-world use cases for Snowflake’s AI and governance tools, strengthening the investment case around monetization. Sanofi Chooses Snowflake to Accelerate its AI-Powered Drug Development
• Neutral Sentiment: Several partner award and marketplace launch announcements at Summit 26 add to the narrative of expanding ecosystem momentum, but they are less likely than product launches or analyst upgrades to move the stock on their own.
• Negative Sentiment: Insider selling by directors Frank Slootman and Mark Garrett may create a modest overhang, even though the sales were disclosed and at least one was tied to a pre-arranged trading plan.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of SNOW. Kemnay Advisory Services Inc. purchased a new position in Snowflake in the fourth quarter worth about $28,000. Greenline Wealth Management LLC purchased a new position in Snowflake in the fourth quarter worth about $29,000. GoalVest Advisory LLC raised its holdings in Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock worth $30,000 after buying an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after buying an additional 51 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new position in Snowflake in the fourth quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SNOW shares. Stifel Nicolaus raised their price target on shares of Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. TD Cowen reissued a "buy" rating and issued a $300.00 price target on shares of Snowflake in a report on Wednesday. Sanford C. Bernstein raised their price target on shares of Snowflake from $195.00 to $250.00 and gave the stock a "market perform" rating in a report on Thursday, May 28th. Loop Capital raised their price target on shares of Snowflake from $290.00 to $320.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, HSBC set a $289.00 price target on shares of Snowflake and gave the stock a "buy" rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $289.90.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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