Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 3,455 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 3,455 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $126.08, for a total value of $435,606.40. Following the sale, the director now directly owns 221,016 shares of the company’s stock, valued at $27,865,697.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, June 11th, Frank Slootman sold 1,476 shares of Snowflake stock. The shares were sold at an average price of $128.47, for a total value of $189,621.72.

Snowflake Stock Down 2.3 %

Shares of SNOW stock opened at $124.82 on Tuesday. The firm has a market cap of $41.79 billion, a P/E ratio of -44.58 and a beta of 0.85. The business has a 50-day moving average price of $147.15 and a two-hundred day moving average price of $174.84. Snowflake Inc. has a 12-month low of $124.40 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The company had revenue of $828.71 million during the quarter, compared to analysts’ expectations of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. As a group, research analysts expect that Snowflake Inc. will post -2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Trexquant Investment LP increased its holdings in Snowflake by 266.3% during the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,633 shares during the period. Ridgewood Investments LLC purchased a new position in Snowflake during the 1st quarter valued at about $244,000. Congress Wealth Management LLC DE purchased a new position in Snowflake during the 4th quarter valued at about $232,000. Vanguard Group Inc. increased its holdings in Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in Snowflake during the 4th quarter valued at about $790,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SNOW shares. BNP Paribas raised Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Thursday, May 2nd. Royal Bank of Canada decreased their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Macquarie decreased their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Evercore ISI decreased their target price on Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Finally, Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.64.

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.