Snowflake (NYSE:SNOW) Director Frank Slootman Sells 1,993 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,993 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $223.31, for a total value of $445,056.83. Following the completion of the sale, the director owned 150,456 shares of the company’s stock, valued at approximately $33,598,329.36. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, September 16th, Frank Slootman sold 7,551 shares of Snowflake stock. The stock was sold at an average price of $221.24, for a total value of $1,670,583.24.

Snowflake Stock Down 2.8%

NYSE:SNOW opened at $216.26 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The company has a market cap of $73.27 billion, a PE ratio of -53.53 and a beta of 1.09. The company’s 50 day moving average is $250.99 and its two-hundred day moving average is $227.12.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNOW. Royal Bank Of Canada reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, December 4th. The Goldman Sachs Group boosted their target price on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Morgan Stanley raised their price target on shares of Snowflake from $272.00 to $299.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Evercore ISI lifted their price objective on Snowflake from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $237.00 target price on shares of Snowflake in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.78.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new stake in shares of Snowflake during the 2nd quarter worth approximately $25,000. Grey Fox Wealth Advisors LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at $25,000. Avion Wealth lifted its stake in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the last quarter. Tripletail Wealth Management LLC purchased a new position in shares of Snowflake during the 3rd quarter worth $28,000. Finally, Rossby Financial LCC increased its position in shares of Snowflake by 4,233.3% during the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.