Snowflake (NYSE:SNOW) Director Sells $42,963,058.80 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 162,924 shares of Snowflake stock in a transaction on Monday, June 1st. The stock was sold at an average price of $263.70, for a total value of $42,963,058.80. Following the sale, the director directly owned 38,046 shares of the company’s stock, valued at $10,032,730.20. This represents a 81.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Friday, May 29th, Frank Slootman sold 437,076 shares of Snowflake stock. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68.
• On Thursday, May 28th, Frank Slootman sold 400,000 shares of Snowflake stock. The shares were sold at an average price of $233.42, for a total value of $93,368,000.00.
• On Tuesday, May 26th, Frank Slootman sold 55,350 shares of Snowflake stock. The shares were sold at an average price of $176.52, for a total value of $9,770,382.00.
• On Tuesday, May 19th, Frank Slootman sold 144,650 shares of Snowflake stock. The shares were sold at an average price of $175.45, for a total value of $25,378,842.50.
• On Wednesday, March 18th, Frank Slootman sold 88,701 shares of Snowflake stock. The shares were sold at an average price of $175.93, for a total value of $15,605,166.93.
• On Thursday, March 19th, Frank Slootman sold 11,299 shares of Snowflake stock. The shares were sold at an average price of $175.25, for a total value of $1,980,149.75.
• On Tuesday, March 17th, Frank Slootman sold 7,874 shares of Snowflake stock. The shares were sold at an average price of $175.34, for a total value of $1,380,627.16.
• On Tuesday, March 10th, Frank Slootman sold 2,042 shares of Snowflake stock. The shares were sold at an average price of $182.44, for a total value of $372,542.48.

Snowflake Stock Down 2.5%

SNOW stock opened at $238.12 on Friday. The company has a market cap of $82.32 billion, a PE ratio of -67.65 and a beta of 1.35. The business has a 50-day simple moving average of $165.25 and a 200 day simple moving average of $190.55. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The company has a quick ratio of 1.30, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.Snowflake’s revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Sell-side analysts anticipate that Snowflake Inc. will post -2.13 EPS for the current fiscal year.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNOW. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. Evercore set a $200.00 target price on Snowflake in a research report on Tuesday, April 14th. Truist Financial lifted their target price on Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Loop Capital lifted their target price on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein boosted their price target on Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.87.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Norges Bank acquired a new position in shares of Snowflake in the fourth quarter worth approximately $974,091,000. Jennison Associates LLC lifted its stake in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. Coatue Management LLC acquired a new position in shares of Snowflake in the third quarter worth approximately $441,277,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Snowflake in the fourth quarter worth approximately $345,619,000. Finally, American Century Companies Inc. lifted its stake in shares of Snowflake by 233.3% in the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after acquiring an additional 1,473,354 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.