Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 45,896 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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.
• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The stock was sold at an average price of $109.96, for a total value of $176,595.76.

Snowflake Stock Performance

NYSE SNOW traded up $4.16 during trading on Monday, reaching $171.60. 15,240,402 shares of the company’s stock were exchanged, compared to its average volume of 6,812,997. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock has a market cap of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83. The company has a 50 day moving average price of $121.23 and a two-hundred day moving average price of $127.91.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Needham & Company LLC upped their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Bank of America increased their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and lifted their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Finally, Royal Bank of Canada raised their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. LRI Investments LLC raised its stake in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Snowflake in the third quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the third quarter worth $30,000. Finally, Fortitude Family Office LLC purchased a new position in Snowflake in the 3rd quarter valued at $34,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.