Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 2,218 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 2,218 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at $36,528,625. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 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 shares were 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 stock was sold at an average price of $114.39, for a total transaction of $715,051.89.
• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76.

Snowflake Stock Performance

NYSE:SNOW opened at $183.02 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.88. The company has a 50 day moving average price of $131.51 and a 200 day moving average price of $129.20. The stock has a market capitalization of $61.35 billion, a P/E ratio of -53.99 and a beta of 1.03.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC grew its stake in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new stake in Snowflake during the 3rd quarter worth $34,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SNOW. Loop Capital dropped their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and increased their price target for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Royal Bank of Canada lifted their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Needham & Company LLC upped their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.80.

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.