Insider Selling: Snowflake (NYSE:SNOW) Director Sells $65,887,526.90 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 197,209 shares of the company’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $334.10, for a total value of $65,887,526.90. Following the sale, the director directly owned 19,024 shares of the company’s stock, valued at approximately $6,355,918.40. This represents a 91.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 21st, Frank Slootman sold 102,791 shares of Snowflake stock. The stock was sold at an average price of $335.22, for a total value of $34,457,599.02.
• On Wednesday, September 16th, Frank Slootman sold 8,191 shares of Snowflake stock. The shares were sold at an average price of $318.51, for a total transaction of $2,608,915.41.
• On Wednesday, August 19th, Frank Slootman sold 48,990 shares of Snowflake stock. The stock was sold at an average price of $320.78, for a total transaction of $15,715,012.20.
• On Tuesday, August 18th, Frank Slootman sold 251,010 shares of Snowflake stock. The stock was sold at an average price of $325.53, for a total transaction of $81,711,285.30.
• On Tuesday, July 21st, Frank Slootman sold 10,315 shares of Snowflake stock. The shares were sold at an average price of $275.10, for a total transaction of $2,837,656.50.
• On Monday, July 20th, Frank Slootman sold 289,685 shares of Snowflake stock. The shares were sold at an average price of $274.39, for a total transaction of $79,486,667.15.
• On Monday, June 29th, Frank Slootman sold 99,900 shares of Snowflake stock. The stock was sold at an average price of $251.73, for a total transaction of $25,147,827.00.
• On Friday, June 26th, Frank Slootman sold 100 shares of Snowflake stock. The shares were sold at an average price of $250.00, for a total value of $25,000.00.

Snowflake Stock Down 1.0%

Shares of Snowflake stock traded down $3.25 during midday trading on Tuesday, hitting $336.14. The company’s stock had a trading volume of 4,958,236 shares, compared to its average volume of 5,370,478. The firm has a market capitalization of $118.59 billion, a P/E ratio of -105.70 and a beta of 1.33. The stock has a 50-day simple moving average of $313.36 and a 200-day simple moving average of $233.15. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $384.56.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%.Snowflake’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, sell-side analysts expect that Snowflake Inc. will post -1.57 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Silicon Valley Capital Partners lifted its stake in shares of Snowflake by 15.2% in the second quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock valued at $15,801,000 after buying an additional 8,208 shares during the period. Wellington Altus USA Inc. acquired a new position in Snowflake in the 2nd quarter valued at approximately $102,000. Anchor Investment Management LLC bought a new stake in shares of Snowflake in the 2nd quarter worth approximately $76,000. Sequoia Financial Advisors LLC lifted its position in shares of Snowflake by 14.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 39,598 shares of the company’s stock worth $10,078,000 after acquiring an additional 4,927 shares during the period. Finally, MCF Advisors LLC grew its holdings in shares of Snowflake by 1,557.9% during the 2nd quarter. MCF Advisors LLC now owns 315 shares of the company’s stock worth $80,000 after purchasing an additional 296 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Snowflake from $425.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Snowflake in a research report on Thursday, September 3rd. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $285.00 to $426.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Loop Capital boosted their price target on shares of Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Snowflake in a report on Tuesday, September 8th. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.24.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Jim Cramer said Snowflake has “caught fire in recent months” after meeting with the company, reinforcing the bullish view that its data platform is benefiting from increased enterprise software and AI demand. Jim Cramer Notes Snowflake
• Positive Sentiment: A recent investment analysis argued that Snowflake’s recovery and long-term growth potential may still justify further upside, citing a roughly $425 Street target compared with a current price near $332. This is an analyst-style opinion rather than new company guidance. Snowflake Stock Is Up 45 Percent in a Year
• Neutral Sentiment: Former Snowflake CFO Mike Scarpelli joined ClickHouse’s board as that company’s run-rate revenue surpassed $350 million. The appointment highlights competition in the data-platform market but does not directly change Snowflake’s fundamentals. ClickHouse Appoints Mike Scarpelli
• Negative Sentiment: Director Frank Slootman sold a combined 300,000 shares for approximately $100.3 million across September 18 and 21, reducing his direct ownership by more than 84% to 19,024 shares. Although the sales were made under a pre-arranged trading plan, their size may encourage profit-taking concerns. SEC insider transaction filing
• Negative Sentiment: Executive Vice President Christian Kleinerman sold 2,622 shares worth about $903,000 to cover tax withholding tied to vested equity awards. Because the transaction was tax-related and represented only a 0.79% reduction in his holdings, it is a relatively weak bearish signal. SEC insider transaction filing
• Negative Sentiment: A report describes an autonomous AI security agent identifying and exploiting a vulnerability in Snowflake’s GitHub repository. The potential security and reputational implications may concern investors, though the report does not indicate a customer-data breach or operational disruption. Snowflake GitHub vulnerability report

About Snowflake

Snowflake Inc (NYSE: SNOW) is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake’s Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake’s marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.