Insider Selling: Snowflake (NYSE:SNOW) Director Sells $445,056.83 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,993 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $223.31, for a total transaction of $445,056.83. Following the completion of the sale, the director directly owned 150,456 shares in the company, valued at approximately $33,598,329.36. This trade represents a 1.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $221.24, for a total transaction of $1,670,583.24.

Snowflake Stock Down 2.8%

Shares of SNOW traded down $6.34 during midday trading on Wednesday, reaching $216.26. The stock had a trading volume of 9,145,238 shares, compared to its average volume of 5,746,051. The company has a market cap of $73.27 billion, a price-to-earnings ratio of -53.53 and a beta of 1.09. The company’s fifty day simple moving average is $250.99 and its two-hundred day simple moving average is $227.12. Snowflake Inc. has a 1-year low of $120.10 and a 1-year 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 1.48.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in shares of Snowflake by 1.9% during the third quarter. IFP Advisors Inc now owns 11,773 shares of the company’s stock worth $2,655,000 after buying an additional 219 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in Snowflake by 9.1% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 34,116 shares of the company’s stock worth $7,695,000 after acquiring an additional 2,856 shares during the period. Investment Research Partners LLC purchased a new position in shares of Snowflake in the 3rd quarter valued at approximately $228,000. Strategic Advocates LLC acquired a new position in shares of Snowflake in the third quarter valued at approximately $45,000. Finally, Manhattan West Asset Management LLC increased its holdings in shares of Snowflake by 0.7% in the third quarter. Manhattan West Asset Management LLC now owns 13,332 shares of the company’s stock valued at $3,007,000 after purchasing an additional 94 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Snowflake from $272.00 to $299.00 and gave the stock 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 objective on shares of Snowflake in a research report on Thursday, December 4th. Macquarie upped their target price on shares of Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of Snowflake in a research note on Thursday, December 4th. Finally, Stifel Nicolaus boosted their price target on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.78.

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.