Snowflake (NYSE:SNOW) Director Sells $433,840.68 in Stock

Key Points

• Snowflake Director Frank Slootman sold 1,938 shares of the company's stock for $433,840.68 on September 9, representing a 1.18% decrease in his holdings.
• The stock experienced a trading volume of over 5 million shares and reached a price of $226.03 during midday on Wednesday, reflecting a 12-month high of $249.99.
• Despite reporting a negative net margin of 33.53%, Snowflake achieved a revenue of $1.14 billion for the last quarter, surpassing analysts' expectations.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Frank Slootman sold 1,938 shares of Snowflake stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total value of $433,840.68. Following the sale, the director owned 162,737 shares in the company, valued at $36,430,304.82. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, August 28th, Frank Slootman sold 710,083 shares of Snowflake stock. The shares were 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 stock was 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 transaction 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 transaction 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 transaction 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 transaction of $48,656,932.96.
• On Tuesday, July 1st, Frank Slootman sold 294,125 shares of Snowflake stock. The shares were sold at an average price of $217.29, for a total transaction 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 value 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 value of $93,191,286.20.

Snowflake Price Performance

NYSE:SNOW traded up $0.47 during midday trading on Wednesday, reaching $226.03. The stock had a trading volume of 5,138,088 shares, compared to its average volume of 7,461,124. Snowflake Inc. has a 12-month low of $108.71 and a 12-month high of $249.99. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.58 and a current ratio of 1.48. The firm has a fifty day simple moving average of $212.58 and a two-hundred day simple moving average of $187.91.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. On average, sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Snowflake by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company's stock worth $6,218,515,000 after purchasing an additional 595,553 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snowflake during the second quarter valued at approximately $3,900,134,000. Jennison Associates LLC boosted its position in Snowflake by 20.5% during the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company's stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares during the last quarter. State Street Corp grew its stake in Snowflake by 1.4% in the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company's stock worth $1,541,120,000 after acquiring an additional 94,293 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in Snowflake by 15.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company's stock valued at $1,108,045,000 after acquiring an additional 652,485 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $225.00 to $255.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. The Goldman Sachs Group raised their price objective on shares of Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. BTIG Research upped their target price on shares of Snowflake from $235.00 to $276.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Wells Fargo & Company increased their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, Needham & Company LLC boosted their price target on Snowflake from $230.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.53.

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.

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