Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells 1,783 Shares of Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, January 22nd, Frank Slootman sold 127,247 shares of Snowflake stock. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75.
• On Monday, December 30th, Frank Slootman sold 100,000 shares of Snowflake stock. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00.
• On Tuesday, December 17th, Frank Slootman sold 6,714 shares of Snowflake stock. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00.

Snowflake Trading Up 1.8 %

NYSE:SNOW traded up $2.69 during trading hours on Wednesday, hitting $152.59. The company had a trading volume of 6,255,200 shares, compared to its average volume of 6,430,209. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50-day moving average price of $173.51 and a 200 day moving average price of $147.59. The company has a market capitalization of $50.37 billion, a PE ratio of -45.01 and a beta of 1.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SNOW shares. Citigroup increased their target price on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Evercore ISI lifted their price objective on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Royal Bank of Canada raised their price target on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Barclays boosted their price objective on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its holdings in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new position in shares of Snowflake in the 4th quarter worth approximately $288,000. Independent Advisor Alliance lifted its stake in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake in the fourth quarter worth $5,851,000. 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.