Snowflake (NYSE:SNOW) Director Frank Slootman Sells 437,076 Shares

Key Points

• Snowflake director Frank Slootman sold 437,076 shares on May 29 at an average price of $252.43, totaling about $110.3 million. After the sale, he retained 38,046 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
• Slootman has been actively trimming his stake with several other recent sales in late May and March, including a 400,000-share sale on May 28. The series of transactions significantly reduced his ownership position in the company.
• Snowflake stock surged 10% to $281.14, near its 52-week high, after reporting stronger-than-expected quarterly results. The company beat EPS and revenue estimates, and multiple analysts raised price targets following the earnings release.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 437,076 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares of the company's stock, valued at $9,603,951.78. This represents a 91.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value 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 value 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 value 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 value 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 value 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 value of $1,380,627.16.
• On Tuesday, March 10th, Frank Slootman sold 2,042 shares of Snowflake stock. The stock was sold at an average price of $182.44, for a total value of $372,542.48.

Snowflake Trading Up 10.0%

Shares of Snowflake stock traded up $25.59 on Monday, reaching $281.14. 20,140,709 shares of the company's stock were exchanged, compared to its average volume of 9,986,376. The company has a market capitalization of $97.19 billion, a P/E ratio of -79.87 and a beta of 1.35. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The firm's 50-day moving average is $158.80 and its two-hundred day moving average is $190.47. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.30.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative return on equity of 49.29% and a negative net margin of 23.79%.The company's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. Sell-side analysts predict that Snowflake Inc. will post -2.2 EPS for the current fiscal year.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake’s latest quarter was described as its best in years, with accelerating growth and improved profitability signaling that the business is re-accelerating after concerns about slowing demand. Snowflake's Best Quarter In Years: One Product Made It Happen
• Positive Sentiment: Analysts and media commentary highlighted Snowflake’s position in AI, with Jim Cramer saying the company understands the transition to AI and expects the post-earnings rally to continue. Jim Cramer Notes “Snowflake Understands the Transition to AI” Jim Cramer Expects Snowflake’s Post-Quarter Rally to “Roll On”
• Positive Sentiment: Snowflake announced new ecosystem activity, including Redpoint’s Identity Studio on the Snowflake Marketplace and Trust3 AI’s integration to govern MCP-based data access, reinforcing Snowflake’s role in enterprise AI infrastructure. Redpoint Launches Identity Studio on Snowflake Marketplace Trust3 AI Announces Integration with Snowflake to Govern MCP-Based Data Access and Accelerate Trusted Enterprise AI
• Positive Sentiment: Investor sentiment toward software stocks improved broadly as AI fears faded, which is helping lift Snowflake alongside peers. 5 Software Stocks That Could Keep Soaring as AI Disruption Fears Fade
• Neutral Sentiment: Snowflake also drew attention after reports of a large AWS infrastructure agreement and acquisition activity tied to AI governance, which may strengthen its long-term moat but is still being evaluated by investors. Snowflake signs $6bn infrastructure agreement with AWS Snowflake Buys Natoma To Govern The Agents Acting On Its Data
• Negative Sentiment: Some coverage cautioned that after the sharp rally, upside may be more limited from here, and a stock sale by former CEO Frank Slootman could be viewed as a mild overhang. Should You Buy Snowflake Stock After Its Recent Surge? The Answer Might Surprise You. Frank Slootman Sells 400,000 Shares of Snowflake NYSE: SNOW Stock

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Truist Financial reissued a "buy" rating and issued a $275.00 price target (up from $240.00) on shares of Snowflake in a research report on Thursday. Barclays increased their price target on Snowflake from $192.00 to $272.00 and gave the company an "equal weight" rating in a research report on Thursday. TD Cowen increased their price target on Snowflake from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday. UBS Group raised their target price on Snowflake from $210.00 to $325.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wedbush raised their target price on Snowflake from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $284.38.

Institutional Trading of Snowflake

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company's stock valued at $6,601,790,000 after buying an additional 1,448,094 shares in the last quarter. Jennison Associates LLC increased its stake in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Nuveen LLC increased its stake in Snowflake by 2.3% in the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company's stock worth $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC increased its stake in Snowflake by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company's stock worth $1,052,195,000 after purchasing an additional 249,668 shares during the period. Finally, Norges Bank purchased a new position in Snowflake in the 4th quarter worth approximately $974,091,000. Institutional investors own 65.10% of the company's stock.

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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