Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 59,617 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 59,617 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,789,543.75. This trade represents a 22.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, November 26th, Frank Slootman sold 20,514 shares of Snowflake stock. The shares were 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 stock was sold at an average price of $176.06, for a total value of $8,080,449.76.
• On Tuesday, September 17th, Frank Slootman sold 6,251 shares of Snowflake stock. The shares were sold at an average price of $114.39, for a total value of $715,051.89.
• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76.

Snowflake Stock Performance

Shares of SNOW opened at $176.02 on Wednesday. The company has a market cap of $59.00 billion, a PE ratio of -51.92 and a beta of 1.03. The firm has a 50-day moving average of $128.62 and a 200-day moving average of $128.42. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.58.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Modus Advisors LLC raised its stake in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares during the period. Catalyst Private Wealth LLC raised its stake in Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after purchasing an additional 108 shares during the last quarter. LRI Investments LLC lifted its holdings in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Finally, Hoylecohen LLC boosted its position in Snowflake by 2.7% during the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock worth $589,000 after purchasing an additional 115 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNOW. Wells Fargo & Company lifted their price target on shares of Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. Mizuho lifted their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. Finally, Stifel Nicolaus lowered their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Two 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.09.

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.