Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 100,000 Shares

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

Snowflake Stock Up 2.0 %

Shares of SNOW stock traded up $3.10 during mid-day trading on Thursday, hitting $157.51. The company’s stock had a trading volume of 3,402,526 shares, compared to its average volume of 6,699,249. The stock has a market cap of $51.99 billion, a price-to-earnings ratio of -46.46 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The business has a 50-day moving average price of $150.20 and a 200 day moving average price of $132.28.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore ISI lifted their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Oppenheimer reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Loop Capital raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Citigroup lowered their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, Argus started coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently bought and sold shares of the business. Modus Advisors LLC boosted its stake in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC boosted its position in Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the last quarter. Clear Creek Financial Management LLC increased its position in shares of Snowflake by 6.7% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after purchasing an additional 115 shares during the last quarter. Covestor Ltd lifted its stake in shares of Snowflake by 16.2% in the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock worth $95,000 after purchasing an additional 115 shares during the period. Finally, Alta Wealth Advisors LLC boosted its holdings in shares of Snowflake by 3.9% in the third quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company’s stock worth $369,000 after buying an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.