Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 3,455 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 3,455 shares of Snowflake stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $126.08, for a total transaction of $435,606.40. Following the sale, the director now directly owns 221,016 shares in the company, valued at approximately $27,865,697.28. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

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

Snowflake Trading Up 4.0 %

Shares of Snowflake stock opened at $129.14 on Thursday. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72. The company’s fifty day simple moving average is $146.63 and its 200-day simple moving average is $174.37.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. As a group, research analysts predict that Snowflake Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Accent Capital Management LLC bought a new stake in Snowflake during the 4th quarter worth approximately $25,000. LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter valued at $29,000. Riverview Trust Co purchased a new position in shares of Snowflake during the 1st quarter valued at $31,000. Hartford Financial Management Inc. purchased a new stake in Snowflake in the 1st quarter worth $32,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Snowflake in the 1st quarter worth $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. 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. Robert W. Baird decreased their price objective on Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Stifel Nicolaus decreased their price target on shares of Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Three research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.03.

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.