Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 7,294 Shares of Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 7,294 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00. Following the completion of the sale, the director now directly owns 170,718 shares in the company, valued at approximately $35,509,344. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 10th, Frank Slootman sold 1,859 shares of Snowflake stock. The shares were sold at an average price of $209.96, for a total transaction of $390,315.64.

Snowflake Stock Performance

Shares of SNOW stock traded down $0.24 during trading hours on Friday, reaching $211.84. 4,238,099 shares of the company's stock were exchanged, compared to its average volume of 6,210,140. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $215.99. The stock has a market capitalization of $70.73 billion, a P/E ratio of -50.32 and a beta of 1.21. The business has a fifty day moving average price of $183.12 and a 200-day moving average price of $172.04. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The business's revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Van ECK Associates Corp lifted its stake in Snowflake by 90.2% in the fourth quarter. Van ECK Associates Corp now owns 8,194 shares of the company's stock valued at $1,265,000 after buying an additional 3,886 shares during the period. V Square Quantitative Management LLC lifted its stake in Snowflake by 240.2% in the fourth quarter. V Square Quantitative Management LLC now owns 888 shares of the company's stock valued at $139,000 after buying an additional 627 shares during the period. Principal Securities Inc. lifted its stake in Snowflake by 50.2% in the fourth quarter. Principal Securities Inc. now owns 7,418 shares of the company's stock valued at $1,145,000 after buying an additional 2,478 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in Snowflake in the fourth quarter valued at about $218,000. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SNOW shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 target price (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Stifel Nicolaus raised their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Citigroup restated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Barclays reiterated an "overweight" rating and issued a $219.00 price target (up from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $223.54.

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.