Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 1,712 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,712 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $306,448.00. Following the completion of the sale, the director now owns 205,965 shares of the company’s stock, valued at $36,867,735. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 3rd, Frank Slootman sold 2,218 shares of Snowflake stock. The stock was 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.
• 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.

Snowflake Price Performance

SNOW stock traded up $0.48 on Wednesday, reaching $172.03. 5,469,799 shares of the company’s stock were exchanged, compared to its average volume of 6,817,050. The stock has a fifty day moving average of $135.44 and a 200-day moving average of $129.15. The firm has a market cap of $56.79 billion, a PE ratio of -51.04 and a beta of 1.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the period. Geode Capital Management LLC increased its stake in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wedbush raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Monday, November 25th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Jefferies Financial Group raised their price objective on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Argus initiated coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Two investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.89.

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.