Snowflake Inc. (NYSE:SNOW) Director Sells $1,148,094.00 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 6,714 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $1,148,094.00. Following the sale, the director now directly owns 196,454 shares of the company’s stock, valued at approximately $33,593,634. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 10th, Frank Slootman sold 1,712 shares of Snowflake stock. The stock was sold at an average price of $179.00, for a total value of $306,448.00.
• On Tuesday, December 3rd, Frank Slootman sold 2,218 shares of Snowflake stock. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00.
• On Friday, November 29th, Frank Slootman sold 59,617 shares of Snowflake stock. The shares were sold at an average price of $176.25, for a total transaction of $10,507,496.25.
• On Tuesday, November 26th, Frank Slootman sold 20,514 shares of Snowflake stock. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64.
• On Friday, November 22nd, Frank Slootman sold 45,896 shares of Snowflake stock. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76.

Snowflake Stock Performance

Shares of Snowflake stock traded down $8.22 on Wednesday, reaching $162.59. 5,130,807 shares of the stock were exchanged, compared to its average volume of 6,787,121. The firm has a market capitalization of $53.67 billion, a PE ratio of -47.96 and a beta of 1.03. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The business has a fifty day moving average price of $142.12 and a two-hundred day moving average price of $130.22. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

SNOW has been the subject of several research reports. Canaccord Genuity Group dropped their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Wedbush upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Monday, November 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Truist Financial restated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Finally, Evercore ISI lifted their price target on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $184.46.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC lifted its holdings in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the period. Groupama Asset Managment purchased a new position in Snowflake in the third quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the second quarter valued at $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter worth $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Snowflake during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

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.