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

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were 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 directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $176,595.76.
• On Thursday, June 20th, Frank Slootman sold 3,455 shares of Snowflake stock. The stock was sold at an average price of $126.08, for a total transaction of $435,606.40.

Snowflake Trading Up 2.9 %

Shares of Snowflake stock opened at $114.00 on Friday. The firm has a market capitalization of $38.21 billion, a P/E ratio of -40.71 and a beta of 0.83. The business has a fifty day simple moving average of $121.87 and a two-hundred day simple moving average of $140.21. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.52) earnings per share. Analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current year.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently modified their holdings of the stock. Accent Capital Management LLC bought a new position in shares of Snowflake during the fourth quarter valued at $25,000. LRI Investments LLC bought a new position in shares of Snowflake during the first quarter valued at $29,000. FinTrust Capital Advisors LLC increased its holdings in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Riverview Trust Co bought a new position in shares of Snowflake during the first quarter valued at $31,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Snowflake during the first quarter valued at $32,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and set a $165.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Macquarie dropped their target price on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Mizuho cut their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. UBS Group reduced their price target on shares of Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Finally, Stifel Nicolaus reduced their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

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.