Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 294,125 Shares of Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 294,125 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $217.29, for a total value of $63,910,421.25. Following the transaction, the director owned 165,507 shares of the company's stock, valued at approximately $35,963,016.03. The trade was a 63.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, June 30th, Frank Slootman sold 217,432 shares of Snowflake stock. The shares were sold at an average price of $223.78, for a total transaction of $48,656,932.96.
• 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 shares were 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 shares were sold at an average price of $209.96, for a total value of $390,315.64.

Snowflake Stock Performance

Shares of SNOW traded up $3.53 on Thursday, reaching $220.87. The company's stock had a trading volume of 2,753,345 shares, compared to its average volume of 6,043,158. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $225.68. The stock has a market capitalization of $73.74 billion, a P/E ratio of -52.46 and a beta of 1.22. 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 stock's 50 day simple moving average is $195.35 and its two-hundred day simple moving average is $174.42.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Stifel Nicolaus raised their target price on shares of Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Scotiabank restated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Daiwa Capital Markets began coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target for the company. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price objective (up previously from $225.00) on shares of Snowflake in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $225.36.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter worth about $26,000. CVA Family Office LLC lifted its holdings in Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new position in Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

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.