Snowflake (NYSE:SNOW) Director Sells $1,935,840.00 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 8,066 shares of Snowflake stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total value of $1,935,840.00. Following the completion of the transaction, the director directly owned 28,535 shares of the company’s stock, valued at approximately $6,848,400. This represents a 22.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $42,963,058.80.
• 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 stock was 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 stock was 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 stock was sold at an average price of $175.45, for a total value of $25,378,842.50.
• On Thursday, March 19th, Frank Slootman sold 11,299 shares of Snowflake stock. The stock was sold at an average price of $175.25, for a total value of $1,980,149.75.

Snowflake Stock Performance

NYSE SNOW traded down $4.08 during trading hours on Wednesday, hitting $234.24. The company’s stock had a trading volume of 6,148,735 shares, compared to its average volume of 10,591,309. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The company’s 50 day simple moving average is $178.86 and its two-hundred day simple moving average is $189.60. The company has a market cap of $81.19 billion, a P/E ratio of -66.55 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.24 EPS. Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Institutional Investors Weigh In On Snowflake

A number of large investors have recently made changes to their positions in SNOW. Norges Bank bought a new position in shares of Snowflake during the 4th quarter valued at approximately $974,091,000. Jennison Associates LLC grew its stake in shares of Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. Coatue Management LLC bought a new position in shares of Snowflake during the 3rd quarter valued at approximately $441,277,000. Jericho Capital Asset Management L.P. bought a new position in shares of Snowflake during the 4th quarter valued at approximately $345,619,000. Finally, American Century Companies Inc. lifted its holdings in Snowflake by 233.3% in the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after purchasing an additional 1,473,354 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on SNOW. Canaccord Genuity Group boosted their price target on Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Monness Crespi & Hardt boosted their price target on Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. TD Cowen restated a “buy” rating and set a $300.00 price target on shares of Snowflake in a research note on Wednesday, June 3rd. Truist Financial boosted their price target on Snowflake from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $291.77.

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.