Snowflake Inc. (NYSE:SNOW) CFO Sells 300,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Snowflake Stock Performance

Shares of SNOW stock traded down $2.73 during mid-day trading on Thursday, hitting $157.01. 2,645,480 shares of the stock were exchanged, compared to its average volume of 6,319,852. The stock’s fifty day simple moving average is $172.39 and its two-hundred day simple moving average is $150.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The stock has a market capitalization of $51.83 billion, a price-to-earnings ratio of -46.31 and a beta of 1.07.

Analyst Ratings Changes

Several brokerages recently weighed in on SNOW. Royal Bank of Canada increased their price objective on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Loop Capital increased their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research note on Tuesday, February 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SNOW. Wellington Management Group LLP lifted its stake in Snowflake by 1,325.2% in the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock valued at $16,758,000 after buying an additional 100,912 shares during the last quarter. 111 Capital purchased a new stake in Snowflake in the 4th quarter valued at $578,000. NorthCrest Asset Manangement LLC raised its position in Snowflake by 12.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock valued at $1,202,000 after purchasing an additional 875 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in Snowflake during the 4th quarter worth $2,007,000. Finally, Centaurus Financial Inc. grew its position in Snowflake by 15.8% during the 4th quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock worth $1,280,000 after purchasing an additional 1,132 shares during the last quarter. 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.