Snowflake Inc. (NYSE:SNOW) CFO Sells $82,144,000.00 in Stock

Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli sold 400,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total value of $82,144,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Michael Scarpelli also recently made the following trade(s):

• On Tuesday, March 25th, Michael Scarpelli sold 300,000 shares of Snowflake stock. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00.

Snowflake Stock Up 1.7%

SNOW stock opened at $205.69 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $209.80. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $68.67 billion, a PE ratio of -60.68 and a beta of 1.11. The business has a 50 day moving average of $163.63 and a 200 day moving average of $166.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a report on Tuesday, February 18th. Wells Fargo & Company restated an “overweight” rating and set a $225.00 target price (up from $200.00) on shares of Snowflake in a report on Thursday, May 22nd. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Sanford C. Bernstein restated a “market perform” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Truist Financial increased their price objective on Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $217.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospect Financial Services LLC bought a new position in Snowflake during the 4th quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. increased its position in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after purchasing an additional 2,000 shares in the last quarter. Kirtland Hills Capital Management LLC increased its holdings in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after purchasing an additional 4,559 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company’s stock worth $19,174,000 after purchasing an additional 101,806 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.