Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells $22,427,283.75 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, December 30th, Frank Slootman sold 100,000 shares of Snowflake stock. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00.
• 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 shares were sold at an average price of $179.00, for a total value of $306,448.00.
• On Tuesday, December 3rd, Frank Slootman sold 2,218 shares of Snowflake stock. The stock was sold at an average price of $175.00, for a total value 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 stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76.

Snowflake Price Performance

NYSE:SNOW opened at $174.05 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The stock has a market cap of $57.45 billion, a PE ratio of -51.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50 day moving average price of $165.83 and a 200 day moving average price of $136.13.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research reports. 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 note on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Cantor Fitzgerald started coverage on Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price objective for the company. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada boosted their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Groupama Asset Managment purchased a new stake in shares of Snowflake in the third quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the 3rd quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $34,000. Perkins Coie Trust Co increased its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake during the 4th quarter valued at approximately $38,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.