Insider Selling: Snowflake (NYSE:SNOW) Director Sells 100 Shares

Snowflake Inc. (NYSE:SNOWGet Free Report) Director Frank Slootman sold 100 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $250.00, for a total transaction of $25,000.00. Following the completion of the sale, the director directly owned 28,535 shares in the company, valued at $7,133,750. This trade represents a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Thursday, June 18th, Frank Slootman sold 200,000 shares of Snowflake stock. The stock was sold at an average price of $224.27, for a total transaction of $44,854,000.00.
  • On Tuesday, June 16th, Frank Slootman sold 8,066 shares of Snowflake stock. The stock was sold at an average price of $240.00, for a total value of $1,935,840.00.
  • On Monday, June 1st, Frank Slootman sold 162,924 shares of Snowflake stock. The shares were sold at an average price of $263.70, for a total value of $42,963,058.80.
  • On Friday, May 29th, Frank Slootman sold 437,076 shares of Snowflake stock. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68.
  • On Thursday, May 28th, Frank Slootman sold 400,000 shares of Snowflake stock. The stock was 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 stock was 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.

Snowflake Price Performance

Shares of SNOW traded up $1.43 during trading hours on Monday, reaching $250.39. 8,377,553 shares of the company traded hands, compared to its average volume of 7,532,520. The stock has a market capitalization of $86.79 billion, a PE ratio of -71.13 and a beta of 1.35. The stock has a fifty day simple moving average of $191.99 and a 200 day simple moving average of $188.94. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOWGet Free Report) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, research analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of analyst reports. TD Cowen restated a “buy” rating and set a $300.00 target price on shares of Snowflake in a research report on Wednesday, June 3rd. Mizuho increased their price target on Snowflake from $220.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Truist Financial raised their price objective on Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Wells Fargo & Company upped their target price on Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $275.00 target price on shares of Snowflake in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.53.

Read Our Latest Stock Report on SNOW

Institutional Trading of Snowflake

Institutional investors have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. purchased a new stake in Snowflake during the fourth quarter valued at about $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth about $29,000. GoalVest Advisory LLC lifted its stake in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the period. Finally, MV Capital Management Inc. acquired a new stake in Snowflake during the 4th quarter worth approximately $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

About Snowflake

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Snowflake (NYSE:SNOW)

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