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

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction dated 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 sale, the director now owns 208,735 shares in the company, valued at $36,582,896.10. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $114.39, for a total transaction 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 Price Performance

Shares of SNOW traded up $2.34 during mid-day trading on Wednesday, reaching $173.62. 6,959,448 shares of the company were exchanged, compared to its average volume of 6,817,471. The business has a 50 day simple moving average of $122.43 and a two-hundred day simple moving average of $128.01. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho upped their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Bank of America increased their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating and issued a $185.00 price target (up previously from $165.00) on shares of Snowflake in a research note on Thursday, November 21st. Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, UBS Group dropped their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.09.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. LRI Investments LLC increased 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 purchasing an additional 112 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake during the second quarter worth about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC bought a new position in Snowflake in the 3rd quarter valued at about $34,000. 65.10% of the stock is currently 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.