Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 20,514 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 20,514 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the transaction, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,582,896.10. This represents a 8.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 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 Trading Up 0.6 %

Shares of NYSE:SNOW opened at $174.83 on Friday. The firm has a market cap of $58.60 billion, a price-to-earnings ratio of -51.57 and a beta of 0.83. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The business has a fifty day simple moving average of $126.17 and a 200 day simple moving average of $128.74.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. JMP Securities lowered their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Wells Fargo & Company upped their target price on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and lifted their price target for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Finally, Barclays upped their price objective on Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. 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 stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.09.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC grew its stake in shares of Snowflake by 399.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 8,088 shares of the company’s stock valued at $1,307,000 after buying an additional 6,469 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Snowflake by 38.4% during the 1st quarter. Tidal Investments LLC now owns 23,065 shares of the company’s stock worth $3,727,000 after purchasing an additional 6,404 shares during the last quarter. Comerica Bank raised its holdings in shares of Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in shares of Snowflake in the 1st quarter valued at $3,993,000. Finally, Rokos Capital Management LLP boosted its holdings in Snowflake by 234.1% in the first quarter. Rokos Capital Management LLP now owns 360,187 shares of the company’s stock worth $58,203,000 after purchasing an additional 252,384 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.