Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 6,714 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 6,714 shares of Snowflake stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $1,148,094.00. Following the completion of the transaction, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 10th, Frank Slootman sold 1,712 shares of Snowflake stock. The stock was sold at an average price of $179.00, for a total transaction of $306,448.00.
• On Tuesday, December 3rd, Frank Slootman sold 2,218 shares of Snowflake stock. The shares were 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 stock was 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 transaction 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.

Snowflake Trading Down 4.8 %

Shares of NYSE SNOW opened at $162.59 on Thursday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market capitalization of $53.67 billion, a P/E ratio of -47.96 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company’s 50 day simple moving average is $142.12 and its 200 day simple moving average is $130.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNOW. Bank of America boosted their price objective on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. UBS Group decreased their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, KeyCorp increased their price target on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $184.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its stake in Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after buying an additional 7,373 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Snowflake by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after buying an additional 36,704 shares in the last quarter. Finally, Sender Co & Partners Inc. raised its stake in Snowflake by 100.9% during the 3rd quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock worth $979,000 after buying an additional 4,280 shares during the period. 65.10% of the stock is currently owned by institutional investors.

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.