Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 100,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This represents a 33.87 % decrease in their position. 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 17th, Frank Slootman sold 6,714 shares of Snowflake stock. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00.
• On Tuesday, December 10th, Frank Slootman sold 1,712 shares of Snowflake stock. The shares were 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 value 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 value 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 stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76.

Snowflake Price Performance

Shares of SNOW traded up $3.10 during midday trading on Thursday, hitting $157.51. 3,402,526 shares of the company traded hands, compared to its average volume of 6,699,249. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The firm has a market cap of $51.99 billion, a P/E ratio of -46.46 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 stock has a 50-day moving average of $150.20 and a 200-day moving average of $132.28.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Van ECK Associates Corp boosted its position in shares of Snowflake by 22.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,016 shares of the company’s stock valued at $1,083,000 after acquiring an additional 1,476 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Snowflake by 8.8% in the 2nd quarter. CIBC Asset Management Inc now owns 11,161 shares of the company’s stock worth $1,508,000 after buying an additional 902 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of Snowflake during the 2nd quarter valued at $301,000. Foundations Investment Advisors LLC lifted its holdings in shares of Snowflake by 96.1% during the 2nd quarter. Foundations Investment Advisors LLC now owns 10,909 shares of the company’s stock worth $1,474,000 after acquiring an additional 5,346 shares during the last quarter. Finally, Gries Financial LLC bought a new stake in shares of Snowflake during the 2nd quarter worth $209,000. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNOW. Oppenheimer restated an “outperform” rating and issued a $180.00 target price on shares of Snowflake in a report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Citigroup dropped their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. TD Cowen upped their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Truist Financial restated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.03.

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.