Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells $72,249,504.47 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 323,713 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $223.19, for a total value of $72,249,504.47. Following the completion of the transaction, the director directly owned 165,507 shares of the company’s stock, valued at $36,939,507.33. This represents a 66.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, July 8th, Frank Slootman sold 100,483 shares of Snowflake stock. The shares were sold at an average price of $223.55, for a total value of $22,462,974.65.
• On Wednesday, July 2nd, Frank Slootman sold 187,815 shares of Snowflake stock. The shares were sold at an average price of $216.55, for a total value of $40,671,338.25.
• On Thursday, July 3rd, Frank Slootman sold 178,949 shares of Snowflake stock. The shares were sold at an average price of $221.16, for a total transaction of $39,576,360.84.
• On Monday, June 30th, Frank Slootman sold 217,432 shares of Snowflake stock. The shares were sold at an average price of $223.78, for a total transaction of $48,656,932.96.
• On Tuesday, July 1st, Frank Slootman sold 294,125 shares of Snowflake stock. The shares were sold at an average price of $217.29, for a total transaction of $63,910,421.25.
• On Friday, June 27th, Frank Slootman sold 306,502 shares of Snowflake stock. The shares were sold at an average price of $222.46, for a total transaction of $68,184,434.92.
• On Thursday, June 26th, Frank Slootman sold 424,852 shares of Snowflake stock. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20.
• On Tuesday, June 17th, Frank Slootman sold 7,294 shares of Snowflake stock. The shares were sold at an average price of $208.00, for a total transaction of $1,517,152.00.
• On Tuesday, June 10th, Frank Slootman sold 1,859 shares of Snowflake stock. The shares were sold at an average price of $209.96, for a total transaction of $390,315.64.

Snowflake Stock Down 1.8%

SNOW stock opened at $210.64 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $70.32 billion, a PE ratio of -50.03 and a beta of 1.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $226.60. The stock has a 50-day simple moving average of $203.53 and a two-hundred day simple moving average of $177.02.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. On average, equities analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on SNOW shares. JPMorgan Chase & Co. increased their price target on Snowflake from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Daiwa America upgraded Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Citigroup restated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Loop Capital increased their price target on Snowflake from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.36.

Institutional Trading of Snowflake

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock valued at $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Snowflake during the 2nd quarter valued at about $3,900,134,000. Norges Bank bought a new stake in shares of Snowflake during the 4th quarter valued at about $988,950,000. FMR LLC boosted its position in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in shares of Snowflake during the 4th quarter valued at about $750,572,000. 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.