Insider Selling: Snowflake (NYSE:SNOW) Director Sells 7,551 Shares of Stock

Key Points

• Frank Slootman, a director at Snowflake Inc., sold 7,551 shares on September 16 at an average price of $221.24, totaling approximately $1.67 million, reducing his position by 4.70%.
• Snowflake's stock traded up to $217.97 on the following Wednesday, contrasting with its fifty-two week range of $108.71 to $249.99.
• The company reported $1.14 billion in revenue for the last quarter, exceeding analysts' expectations, and earnings per share of $0.35, beating the forecast of $0.27.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 7,551 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24. Following the transaction, the director directly owned 153,226 shares in the company, valued at $33,899,720.24. This trade represents a 4.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, September 9th, Frank Slootman sold 1,938 shares of Snowflake stock. The stock was sold at an average price of $223.86, for a total value of $433,840.68.
• On Thursday, August 28th, Frank Slootman sold 710,083 shares of Snowflake stock. The stock was sold at an average price of $230.47, for a total value of $163,652,829.01.
• On Thursday, July 31st, Frank Slootman sold 256,046 shares of Snowflake stock. The shares were sold at an average price of $227.15, for a total value of $58,160,848.90.
• On Monday, July 7th, Frank Slootman sold 323,713 shares of Snowflake stock. The shares were 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 Wednesday, July 2nd, Frank Slootman sold 187,815 shares of Snowflake stock. The shares were 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 value 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 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 transaction of $68,184,434.92.

Snowflake Stock Performance

Shares of SNOW stock traded up $2.02 during trading hours on Wednesday, reaching $217.97. 4,359,211 shares of the company's stock were exchanged, compared to its average volume of 7,777,950. Snowflake Inc. has a fifty-two week low of $108.71 and a fifty-two week high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. The stock's 50 day moving average is $212.69 and its 200-day moving average is $189.73.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company's revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Trading of Snowflake

A number of large investors have recently bought and sold shares of SNOW. Kingstone Capital Partners Texas LLC bought a new position in shares of Snowflake in the second quarter valued at $3,900,134,000. Norges Bank acquired a new position in Snowflake in the second quarter valued at about $944,895,000. Nuveen LLC acquired a new position in Snowflake during the first quarter worth about $555,847,000. Winslow Capital Management LLC bought a new stake in shares of Snowflake during the second quarter worth about $725,667,000. Finally, AQR Capital Management LLC boosted its holdings in Snowflake by 346.2% in the first 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 during the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SNOW shares. CICC Research initiated coverage on shares of Snowflake in a research report on Friday, June 20th. They set an "outperform" rating and a $225.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Barclays lifted their price objective on shares of Snowflake from $219.00 to $255.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Stifel Nicolaus boosted their price target on shares of Snowflake from $220.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $260.00 target price on shares of Snowflake in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $255.53.

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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