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

by · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) Director Frank Slootman sold 7,728 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $212.45, for a total value of $1,641,813.60. Following the transaction, the director directly owned 140,945 shares of the company’s stock, valued at $29,943,765.25. This trade represents a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 value of $445,056.83.

Snowflake Stock Performance

SNOW stock traded up $5.17 on Tuesday, reaching $220.45. The company’s stock had a trading volume of 4,751,934 shares, compared to its average volume of 5,258,197. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $74.69 billion, a P/E ratio of -54.57 and a beta of 1.09. The firm has a fifty day moving average of $249.69 and a two-hundred day moving average of $227.60.

Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. As a group, analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SNOW shares. Robert W. Baird upped their target price on Snowflake from $260.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Macquarie upped their price objective on shares of Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. KeyCorp lifted their target price on shares of Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Sanford C. Bernstein restated a “market perform” rating and set a $237.00 price target on shares of Snowflake in a report on Thursday, December 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.32.

Check Out Our Latest Research Report on SNOW

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake in the second quarter valued at approximately $25,000. Avion Wealth boosted its stake in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in shares of Snowflake during the third quarter worth $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Snowflake in the third quarter valued at $28,000. Finally, Rossby Financial LCC increased its stake in shares of Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after buying an additional 127 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

(Get Free Report)

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.

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