Snowflake Inc. (NYSE:SNOW) Director Sells $68,184,434.92 in Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 306,502 shares of Snowflake stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $222.46, for a total transaction of $68,184,434.92. Following the completion of the transaction, the director owned 165,507 shares of the company's stock, valued at $36,818,687.22. This trade represents a 64.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 value of $93,191,286.20.
• On Tuesday, June 17th, Frank Slootman sold 7,294 shares of Snowflake stock. The shares were 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 value of $390,315.64.

Snowflake Stock Down 3.1%

NYSE SNOW traded down $6.87 on Tuesday, hitting $216.90. 3,396,363 shares of the stock were exchanged, compared to its average volume of 5,388,077. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The company has a 50-day moving average price of $192.44 and a 200-day moving average price of $173.83. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $72.41 billion, a PE ratio of -51.52 and a beta of 1.21.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Snowflake by 1.2% in the first quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company's stock valued at $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at about $988,950,000. FMR LLC boosted its position in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the period. GQG Partners LLC purchased a new position in Snowflake during the 4th quarter worth approximately $750,572,000. Finally, Price T Rowe Associates Inc. MD increased its position in Snowflake by 19.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company's stock worth $691,693,000 after buying an additional 763,673 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on SNOW. KeyCorp reaffirmed an "overweight" rating on shares of Snowflake in a research report on Wednesday, June 25th. CICC Research initiated coverage on shares of Snowflake in a research report on Friday, June 20th. They issued an "outperform" rating and a $225.00 price target for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $245.00 target price on shares of Snowflake in a report on Wednesday, June 4th. Monness Crespi & Hardt upped their price objective on Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Daiwa Capital Markets began coverage on shares of Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.22.

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.