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

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

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 transaction 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 Price Performance

NYSE SNOW traded down $0.85 on Wednesday, hitting $110.78. 6,474,586 shares of the stock were exchanged, compared to its average volume of 6,563,695. The company’s 50-day moving average price is $121.87 and its two-hundred day moving average price is $140.21. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a market capitalization of $37.09 billion, a price-to-earnings ratio of -39.56 and a beta of 0.83.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $851.72 million. During the same period in the previous year, the firm earned ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% on a year-over-year basis. Equities analysts predict that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in SNOW. Newbridge Financial Services Group Inc. increased its stake in Snowflake by 27.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock valued at $451,000 after buying an additional 722 shares during the period. Heritage Wealth Management Inc. acquired a new position in shares of Snowflake in the second quarter worth $530,000. Sanctuary Advisors LLC purchased a new stake in shares of Snowflake during the second quarter worth $3,352,000. Strategic Investment Solutions Inc. IL acquired a new stake in Snowflake during the second quarter valued at $142,000. Finally, Cetera Investment Advisers increased its position in Snowflake by 8.0% in the 2nd quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock worth $9,294,000 after purchasing an additional 5,112 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on SNOW shares. Loop Capital cut their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Morgan Stanley reissued an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Scotiabank dropped their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Finally, DA Davidson decreased their target price on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average 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.