Insider Buying: Snowflake Inc. (NYSE:SNOW) Director Acquires $9,989,058.00 in Stock

Snowflake Inc. (NYSE:SNOWGet Free Report) Director Michael L. Speiser acquired 76,200 shares of the stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $131.09 per share, for a total transaction of $9,989,058.00. Following the transaction, the director now directly owns 1,632,225 shares in the company, valued at $213,968,375.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $130.35 on Thursday. The firm has a market cap of $43.64 billion, a PE ratio of -46.55 and a beta of 0.85. Snowflake Inc. has a 52 week low of $125.89 and a 52 week high of $237.72. The firm’s fifty day moving average is $151.55 and its 200-day moving average is $177.94.

Analyst Ratings Changes

Several analysts have weighed in on SNOW shares. Mizuho dropped their price objective on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Stifel Nicolaus cut their price target on Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Scotiabank lowered their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 23rd. Barclays upped their target price on Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a research report on Thursday, May 23rd. Finally, Guggenheim upgraded Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $198.92.

Check Out Our Latest Stock Analysis on SNOW

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP raised its position in shares of Snowflake by 266.3% during the fourth quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock worth $2,089,000 after acquiring an additional 7,633 shares during the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of Snowflake in the 4th quarter worth approximately $232,000. Rakuten Securities Inc. acquired a new position in shares of Snowflake in the 4th quarter worth approximately $790,000. Sequoia Financial Advisors LLC increased its position in shares of Snowflake by 209.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after buying an additional 3,152 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Snowflake by 14.1% during the fourth quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock worth $3,762,000 after buying an additional 2,332 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

About Snowflake

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Snowflake (NYSE:SNOW)

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