Frank Slootman Sells 6,251 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $23,877,196.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The stock was sold at an average price of $109.96, for a total value of $176,595.76.
• On Thursday, June 20th, Frank Slootman sold 3,455 shares of Snowflake stock. The shares were sold at an average price of $126.08, for a total value of $435,606.40.

Snowflake Trading Down 0.8 %

NYSE:SNOW traded down $0.85 on Wednesday, reaching $110.78. The stock had a trading volume of 6,474,586 shares, compared to its average volume of 6,563,695. The company has a 50-day moving average of $121.87 and a 200 day moving average of $140.21. The stock has a market cap of $37.09 billion, a P/E ratio of -39.56 and a beta of 0.83. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the prior year, the business posted ($0.52) earnings per share. Snowflake’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities analysts predict that Snowflake Inc. will post -2.42 EPS for the current year.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. Accent Capital Management LLC acquired a new stake in Snowflake in the fourth quarter valued at $25,000. LRI Investments LLC bought a new position in shares of Snowflake during the first quarter worth about $29,000. FinTrust Capital Advisors LLC grew its stake in Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co bought a new stake in Snowflake in the first quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Snowflake during the first quarter valued at approximately $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Needham & Company LLC reduced their target price on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. KeyCorp upped their price objective on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Mizuho lowered their target price on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Citigroup cut their price target on Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein raised their price objective on Snowflake from $171.00 to $185.00 and gave the stock a “market perform” rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

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.