Frank Slootman Sells 7,728 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 7,728 shares of Snowflake stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $212.45, for a total transaction of $1,641,813.60. Following the sale, the director directly owned 140,945 shares of the company’s stock, valued at $29,943,765.25. The trade was a 5.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, December 9th, Frank Slootman sold 1,993 shares of Snowflake stock. The shares were sold at an average price of $223.31, for a total transaction of $445,056.83.

Snowflake Trading Down 1.9%

Shares of SNOW stock opened at $216.38 on Thursday. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The company has a market capitalization of $74.04 billion, a PE ratio of -53.56 and a beta of 1.09. The firm has a 50 day moving average price of $248.72 and a two-hundred day moving average price of $227.62. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. boosted its position in shares of Snowflake by 2.7% in the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock worth $340,000 after purchasing an additional 40 shares during the period. Diligent Investors LLC boosted its holdings in Snowflake by 0.9% in the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock worth $1,036,000 after buying an additional 40 shares during the period. Coastline Trust Co increased its stake in Snowflake by 1.0% in the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after buying an additional 42 shares in the last quarter. Capital Advantage Inc. raised its holdings in Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the period. Finally, Wedbush Securities Inc. raised its holdings in Snowflake by 1.3% during the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares during the period. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of research reports. Guggenheim reissued a “neutral” rating on shares of Snowflake in a report on Wednesday, November 26th. KeyCorp lifted their price objective on shares of Snowflake from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Evercore ISI boosted their price objective on shares of Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Barclays raised their target price on shares of Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, DA Davidson reiterated a “buy” rating and issued a $300.00 price target on shares of Snowflake in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $275.32.

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.