Snowflake (NYSE:SNOW) Director Frank Slootman Sells 200,000 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $206.77, for a total transaction of $41,354,000.00. Following the sale, the director owned 50,329 shares of the company’s stock, valued at approximately $10,406,527.33. This represents a 79.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, December 18th, Frank Slootman sold 200,000 shares of Snowflake stock. The shares were sold at an average price of $221.83, for a total value of $44,366,000.00.
• On Tuesday, December 16th, Frank Slootman sold 7,728 shares of Snowflake stock. The stock was sold at an average price of $212.45, for a total value of $1,641,813.60.
• On Tuesday, December 9th, Frank Slootman sold 1,993 shares of Snowflake stock. The stock was sold at an average price of $223.31, for a total value of $445,056.83.

Snowflake Price Performance

SNOW traded up $4.88 during trading hours on Thursday, hitting $211.38. The company’s stock had a trading volume of 3,535,340 shares, compared to its average volume of 4,436,463. The business’s 50-day moving average price is $229.36 and its 200-day moving average price is $228.49. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The stock has a market cap of $72.33 billion, a price-to-earnings ratio of -52.32 and a beta of 1.14. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. Sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNOW. Sumitomo Mitsui Trust Group Inc. increased its position in Snowflake by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock worth $165,123,000 after buying an additional 8,002 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Snowflake during the second quarter worth about $6,845,000. Rheos Capital Works Inc. increased its holdings in shares of Snowflake by 102.9% in the 3rd quarter. Rheos Capital Works Inc. now owns 207,000 shares of the company’s stock worth $46,689,000 after acquiring an additional 105,000 shares during the period. Goldstream Capital Management Ltd bought a new stake in Snowflake in the 2nd quarter valued at about $3,801,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in Snowflake by 81.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 20,141 shares of the company’s stock valued at $4,507,000 after purchasing an additional 9,052 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Macquarie raised their price target on Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Jefferies Financial Group set a $300.00 price objective on shares of Snowflake in a report on Monday, November 24th. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Snowflake in a research report on Thursday, December 4th. UBS Group reissued a “buy” rating on shares of Snowflake in a research report on Thursday, December 4th. Finally, JMP Securities raised their price objective on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $275.58.

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.