Frank Slootman Sells 1,606 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, June 20th, Frank Slootman sold 3,455 shares of Snowflake stock. The stock was sold at an average price of $126.08, for a total transaction of $435,606.40.

Snowflake Stock Up 0.9 %

Shares of SNOW opened at $112.99 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm’s 50 day moving average price is $124.07 and its two-hundred day moving average price is $143.55.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.52) EPS. On average, equities analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. boosted its position in Snowflake by 27.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock worth $451,000 after acquiring an additional 722 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Snowflake in the second quarter worth $530,000. Sanctuary Advisors LLC acquired a new position in Snowflake during the second quarter worth $3,352,000. Strategic Investment Solutions Inc. IL bought a new position in Snowflake in the second quarter valued at $142,000. Finally, Cetera Investment Advisers increased its stake in Snowflake by 8.0% in the 2nd quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock valued at $9,294,000 after buying an additional 5,112 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNOW. Bank of America decreased their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Canaccord Genuity Group lowered their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Stifel Nicolaus reduced their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Wedbush lowered their price objective on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Finally, Robert W. Baird reduced their target price on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.03.

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.