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

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 6,251 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $23,877,196.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The shares were 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 transaction of $435,606.40.

Snowflake Stock Performance

NYSE:SNOW opened at $110.26 on Friday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm’s fifty day moving average is $120.87 and its 200-day moving average is $139.56. The firm has a market cap of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83.

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. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.52) earnings per share. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.42 earnings per share for the current year.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Snowflake by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after acquiring an additional 10,575 shares in the last quarter. Principal Financial Group Inc. increased its stake in Snowflake by 17.5% in the fourth quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock valued at $19,460,000 after purchasing an additional 14,542 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Snowflake by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 33,529 shares of the company’s stock valued at $6,672,000 after purchasing an additional 7,033 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Snowflake by 67.5% during the 4th quarter. Quadrant Capital Group LLC now owns 355 shares of the company’s stock worth $71,000 after purchasing an additional 143 shares in the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at about $269,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SNOW shares. Robert W. Baird dropped their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price target on shares of Snowflake in a research note on Monday, August 19th. Canaccord Genuity Group reduced their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. JMP Securities dropped their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. Finally, HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and raised their price target for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average 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.