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

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 6,714 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the sale, the director now owns 196,454 shares in the company, valued at $33,593,634. This trade represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 shares were 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 shares were sold at an average price of $176.06, for a total value of $8,080,449.76.

Snowflake Price Performance

Shares of Snowflake stock opened at $162.59 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $53.67 billion, a price-to-earnings ratio of -47.96 and a beta of 1.03. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50-day simple moving average of $142.12 and a two-hundred day simple moving average of $130.22.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Royal Bank of Canada lifted their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. UBS Group cut their price target 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. Oppenheimer restated an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Finally, TD Cowen upped their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $184.46.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SNOW. Blue Trust Inc. increased its stake in Snowflake by 103.9% during the 2nd quarter. Blue Trust Inc. now owns 524 shares of the company’s stock worth $71,000 after acquiring an additional 267 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Snowflake by 17.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 127,790 shares of the company’s stock worth $17,263,000 after purchasing an additional 19,324 shares during the period. Fifth Third Bancorp raised its stake in Snowflake by 9.3% in the second quarter. Fifth Third Bancorp now owns 3,336 shares of the company’s stock valued at $451,000 after purchasing an additional 285 shares in the last quarter. PSI Advisors LLC lifted its position in Snowflake by 87.3% during the second quarter. PSI Advisors LLC now owns 429 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares during the period. Finally, Boothe Investment Group Inc. acquired a new stake in Snowflake during the second quarter worth about $3,691,000. 65.10% of the stock is 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.