Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 1,606 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction of $435,606.40.

Snowflake Price Performance

NYSE:SNOW opened at $112.00 on Thursday. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of -40.00 and a beta of 0.84. The firm’s fifty day moving average price is $124.67 and its 200 day moving average price is $143.76. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The company had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter last year, the business earned ($0.52) EPS. The business’s revenue was up 28.9% on a year-over-year basis. As a group, analysts expect that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on SNOW. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price target on shares of Snowflake in a research note on Monday, July 1st. Royal Bank of Canada dropped their price target on shares of Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Macquarie dropped their price target on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Needham & Company LLC dropped their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in shares of Snowflake by 17.2% in the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after buying an additional 4,296 shares during the period. Choreo LLC lifted its holdings in Snowflake by 18.6% in the first quarter. Choreo LLC now owns 8,267 shares of the company’s stock valued at $1,336,000 after acquiring an additional 1,294 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after purchasing an additional 43,062 shares during the period. Trexquant Investment LP increased its holdings in shares of Snowflake by 266.3% in 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Snowflake in the first quarter valued at about $244,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

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.