In addition to the sales, Slootman also exercised options to acquire 200,000 shares at a price of $8.88 per share, bringing the total value of these transactions to $1.776 million. Following these transactions, Slootman retains direct ownership of 195,281 shares of Snowflake stock, which currently has a market capitalization of $57.7 billion and has demonstrated strong revenue growth of 30% year-over-year.These transactions were executed under a pre-established 10b5-1 trading plan, which Slootman adopted on September 30, 2024. For deeper insights into Snowflake’s valuation metrics and comprehensive analysis, including 8 additional exclusive ProTips, check out the detailed Pro Research Report available on InvestingPro.
In addition to the sales, Slootman also exercised options to acquire 200,000 shares at a price of $8.88 per share, bringing the total value of these transactions to $1.776 million. Following these transactions, Slootman retains direct ownership of 195,281 shares of Snowflake stock.
These transactions were executed under a pre-established 10b5-1 trading plan, which Slootman adopted on September 30, 2024.
In other recent news, Snowflake Inc . (NYSE:SNOW) has seen an upward revision in earnings estimates by 33 analysts, reflecting a positive shift in the company’s performance outlook. Wedbush Securities raised the price target for Snowflake from $190.00 to $210.00, maintaining its Outperform rating. This adjustment is linked to Snowflake’s robust product demand and continuous innovation, particularly in AI and machine learning.
Cantor Fitzgerald initiated its coverage of Snowflake, assigning an Overweight rating and setting a price target of $201.00. Barclays (LON:BARC) and Piper Sandler also upgraded their ratings for Snowflake, setting price targets of $190.00 and $208.00, respectively. These upgrades reflect confidence in Snowflake’s growth potential, especially in the AI and machine learning sectors.
On the other hand, Databricks secured a significant $10 billion in Series J funding, increasing its valuation to $62 billion. The funding will facilitate new AI product development, strategic acquisitions, and expansion of international go-to-market strategies.
These developments underline the dynamic growth and competitive landscape in the data and analytics sector, with Snowflake and Databricks emerging as key players.
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