Snowflake (NYSE:SNOW) Director Frank Slootman Sells 8,066 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 8,066 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total value of $1,935,840.00. Following the sale, the director owned 28,535 shares in the company, valued at $6,848,400. The trade was a 22.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, June 1st, Frank Slootman sold 162,924 shares of Snowflake stock. The stock was sold at an average price of $263.70, for a total transaction of $42,963,058.80.
• On Friday, May 29th, Frank Slootman sold 437,076 shares of Snowflake stock. The shares were sold at an average price of $252.43, for a total transaction 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 transaction of $93,368,000.00.
• On Tuesday, May 26th, Frank Slootman sold 55,350 shares of Snowflake stock. The stock was sold at an average price of $176.52, for a total transaction of $9,770,382.00.
• On Tuesday, May 19th, Frank Slootman sold 144,650 shares of Snowflake stock. The stock was sold at an average price of $175.45, for a total transaction of $25,378,842.50.
• 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 transaction of $1,980,149.75.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $234.24 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $81.19 billion, a price-to-earnings ratio of -66.55 and a beta of 1.35. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The firm’s 50-day moving average is $178.86 and its 200 day moving average is $189.60.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company’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 business earned $0.24 earnings per share. Research analysts predict that Snowflake Inc. will post -1.87 EPS for the current year.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail selected its platform to power a new privacy-preserving retail media data hub across Europe and Latin America, highlighting continued customer adoption of Snowflake’s data cloud and clean room tools. Article Title
• Positive Sentiment: EDO said it is using Snowflake Cortex AI to power ChatEDO, reinforcing Snowflake’s role in enterprise AI workflows and showing how customers are building higher-value products on its platform. Article Title
• Positive Sentiment: Jefferies said Snowflake still looks well-positioned despite heavier competition from Databricks, noting that both companies can benefit from expanding enterprise demand for data and AI infrastructure. Article Title
• Neutral Sentiment: Another analyst note argued Snowflake can hold its ground against Databricks because of stronger cash flow and a more attractive valuation, which supports the investment case but does not appear to be a major catalyst on its own. Article Title
• Neutral Sentiment: Several Snowflake executives sold shares under pre-arranged 10b5-1 plans, but the filings say the sales were tied to tax withholding from equity vesting rather than a change in business outlook. Article Title
• Negative Sentiment: Coverage highlighted intensifying competition from Databricks, which may weigh on Snowflake sentiment as investors compare growth rates and market share in the AI data platform space. Article Title

Analyst Ratings Changes

A number of research firms have weighed in on SNOW. Wedbush increased their target price on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Morgan Stanley boosted their target price on shares of Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. HSBC set a $289.00 price target on shares of Snowflake and gave the stock a “buy” rating in a research note on Friday, May 29th. Bank of America lifted their price objective on shares of Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $291.77.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. increased its position in Snowflake by 2.7% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company’s stock valued at $340,000 after purchasing an additional 40 shares during the period. Diligent Investors LLC boosted its stake in shares of Snowflake by 0.9% during the third quarter. Diligent Investors LLC now owns 4,594 shares of the company’s stock valued at $1,036,000 after purchasing an additional 40 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in Snowflake by 10.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 549 shares of the company’s stock valued at $120,000 after buying an additional 50 shares during the period. HHM Wealth Advisors LLC raised its stake in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 50 shares in the last quarter. Finally, United Asset Strategies Inc. raised its stake in Snowflake by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company’s stock worth $777,000 after buying an additional 50 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

About Snowflake

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.