Insider Selling: Snowflake Inc. (NYSE:SNOW) CFO Sells 300,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snowflake Price Performance

Shares of NYSE SNOW traded down $2.73 during midday trading on Thursday, hitting $157.01. The stock had a trading volume of 2,645,480 shares, compared to its average volume of 6,319,852. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a market capitalization of $51.83 billion, a PE ratio of -46.31 and a beta of 1.07. The stock has a 50 day simple moving average of $172.39 and a 200-day simple moving average of $150.74.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Snowflake by 1,325.2% in the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after buying an additional 100,912 shares in the last quarter. 111 Capital purchased a new position in Snowflake in the 4th quarter worth approximately $578,000. NorthCrest Asset Manangement LLC boosted its holdings in shares of Snowflake by 12.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock worth $1,202,000 after purchasing an additional 875 shares during the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $2,007,000. Finally, Centaurus Financial Inc. increased its holdings in shares of Snowflake by 15.8% in the fourth quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock valued at $1,280,000 after purchasing an additional 1,132 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of a number of recent research reports. Mizuho increased their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. KeyCorp increased their price target on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Monness Crespi & Hardt upped their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Oppenheimer boosted their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $205.08.

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.