Frank Slootman Sells 59,617 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 59,617 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,789,543.75. The trade was a 22.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $388,150.00.
• On Tuesday, November 26th, Frank Slootman sold 20,514 shares of Snowflake stock. The shares were 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.
• On Tuesday, September 17th, Frank Slootman sold 6,251 shares of Snowflake stock. The shares were sold at an average price of $114.39, for a total value of $715,051.89.
• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The shares were sold at an average price of $109.96, for a total value of $176,595.76.

Snowflake Trading Up 6.0 %

Snowflake stock opened at $186.55 on Thursday. The stock has a market cap of $62.53 billion, a P/E ratio of -55.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm’s fifty day moving average price is $130.10 and its 200-day moving average price is $128.82.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new position in Snowflake in the third quarter valued at $12,145,000. Garde Capital Inc. increased its stake in Snowflake by 9.5% in the third quarter. Garde Capital Inc. now owns 6,050 shares of the company’s stock valued at $695,000 after acquiring an additional 526 shares during the last quarter. Franklin Resources Inc. increased its stake in Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the last quarter. Synovus Financial Corp increased its stake in Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock valued at $698,000 after acquiring an additional 1,352 shares during the last quarter. Finally, Blankinship & Foster LLC bought a new position in Snowflake in the third quarter valued at $896,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a report on Tuesday. Citigroup decreased their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $185.00 price objective (up from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

About Snowflake

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.