Snowflake (NYSE:SNOW) Director Sells $94,929,000.00 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 300,000 shares of Snowflake stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $316.43, for a total value of $94,929,000.00. Following the sale, the director directly owned 19,024 shares in the company, valued at approximately $6,019,764.32. This trade represents a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 21st, Frank Slootman sold 102,791 shares of Snowflake stock. The shares were sold at an average price of $335.22, for a total transaction of $34,457,599.02.
• On Friday, September 18th, Frank Slootman sold 197,209 shares of Snowflake stock. The stock was sold at an average price of $334.10, for a total transaction of $65,887,526.90.
• On Wednesday, September 16th, Frank Slootman sold 8,191 shares of Snowflake stock. The stock was sold at an average price of $318.51, for a total transaction of $2,608,915.41.
• On Wednesday, August 19th, Frank Slootman sold 48,990 shares of Snowflake stock. The stock was sold at an average price of $320.78, for a total transaction of $15,715,012.20.
• On Tuesday, August 18th, Frank Slootman sold 251,010 shares of Snowflake stock. The shares were sold at an average price of $325.53, for a total transaction of $81,711,285.30.

Snowflake Trading Up 3.6%

SNOW opened at $325.26 on Friday. The company has a 50-day simple moving average of $331.76 and a 200 day simple moving average of $260.74. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $114.75 billion, a price-to-earnings ratio of -102.28 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 35.1% on a year-over-year basis. Analysts predict that Snowflake Inc. will post -1.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNOW. Janus Henderson Group PLC increased its position in shares of Snowflake by 22.2% during the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after acquiring an additional 544,960 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Snowflake by 44.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after acquiring an additional 803,110 shares during the last quarter. Swedbank AB boosted its stake in Snowflake by 24.0% during the 1st quarter. Swedbank AB now owns 1,649,771 shares of the company’s stock worth $248,818,000 after purchasing an additional 319,356 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Snowflake by 76.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock worth $176,736,000 after buying an additional 509,230 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Snowflake by 7.1% in the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock valued at $142,465,000 after purchasing an additional 62,600 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Mizuho set a $425.00 price objective on Snowflake in a research note on Thursday, September 3rd. KeyCorp upped their target price on shares of Snowflake from $285.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Monness Crespi & Hardt increased their target price on shares of Snowflake from $380.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Yorkville Ives assumed coverage on shares of Snowflake in a research report on Monday, October 5th. They set an “outperform” rating and a $400.00 target price on the stock. Finally, Royal Bank Of Canada increased their price target on shares of Snowflake from $372.00 to $440.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Thirty-six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $413.87.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Cloud software shares are rebounding, providing a favorable sector backdrop for Snowflake. Investors are focusing on demand for cloud infrastructure, data analytics and application security. Cloud Stocks Rebound
• Positive Sentiment: New partnerships with Adstra, Lumen Technologies and ATTOM are expanding use of Snowflake’s AI Data Cloud across marketing, networking, property data and secure AI workloads. Greater integration could increase customer usage and consumption-based revenue over time. Snowflake AI Partnerships
• Positive Sentiment: Recent commentary from analysts and investment managers highlights Snowflake’s AI momentum, accelerating product adoption and potential to benefit from a multiyear enterprise AI spending cycle. Some analysts view SNOW as a more attractive enterprise AI opportunity than Broadcom or Salesforce. Snowflake Versus Broadcom
• Neutral Sentiment: Comparisons with Salesforce frame Snowflake as the faster-growing, specialized data-cloud company, while Salesforce offers greater profitability and scale. The debate may attract investors but does not create an immediate change to Snowflake’s outlook. Salesforce Versus Snowflake
• Negative Sentiment: Coverage questioning whether Snowflake is fully valued points to recent share-price momentum and the risk that substantial AI expectations are already reflected in the stock. Investors may require evidence that partnerships translate into sustained revenue and earnings growth. Is Snowflake Fully Valued?
• Negative Sentiment: Director Frank Slootman sold 300,000 shares worth approximately $94.9 million, reducing his stake by 94%. The transaction was made under a pre-arranged Rule 10b5-1 plan, limiting its signaling value, but the size of the sale may weigh on sentiment. Slootman Insider Sale

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.