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 shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 value 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 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 NYSE SNOW opened at $162.22 on Friday. The firm has a market cap of $53.55 billion, a price-to-earnings ratio of -47.85 and a beta of 1.03. The stock has a fifty day simple moving average of $151.98 and a two-hundred day simple moving average of $132.71. The company has a current ratio of 1.88, a quick 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 $237.72.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research analyst reports. Mizuho lifted their price objective on shares of 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 lifted their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. TD Cowen increased their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI raised their target price on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Wedbush downgraded Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Two equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Institutional Investors Weigh In On Snowflake

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Snowflake by 22.6% during the second quarter. Van ECK Associates Corp now owns 8,016 shares of the company’s stock worth $1,083,000 after purchasing an additional 1,476 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Snowflake by 8.8% during the 2nd quarter. CIBC Asset Management Inc now owns 11,161 shares of the company’s stock valued at $1,508,000 after buying an additional 902 shares in the last quarter. Simon Quick Advisors LLC bought a new position in Snowflake in the 2nd quarter worth approximately $301,000. Foundations Investment Advisors LLC grew its stake in Snowflake by 96.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 10,909 shares of the company’s stock valued at $1,474,000 after buying an additional 5,346 shares in the last quarter. Finally, Gries Financial LLC bought a new stake in Snowflake during the 2nd quarter valued at $209,000. 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.