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 stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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 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 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 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 stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76.

Snowflake Price Performance

Shares of SNOW traded down $2.72 during mid-day trading on Thursday, reaching $174.77. The company had a trading volume of 3,741,455 shares, compared to its average volume of 4,945,248. 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 company has a market capitalization of $57.69 billion, a P/E ratio of -51.56 and a beta of 1.05. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company’s 50-day moving average is $163.96 and its 200-day moving average is $135.63.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNOW. JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Monness Crespi & Hardt boosted their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $200.00 in a report on Tuesday, January 7th. Evercore ISI raised their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $188.06.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNOW. Toronto Dominion Bank grew its holdings in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Independent Advisor Alliance boosted its position in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after buying an additional 548 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in Snowflake during the fourth quarter worth about $5,851,000. Franklin Resources Inc. increased its holdings in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after buying an additional 7,373 shares in the last quarter. Finally, Westend Capital Management LLC bought a new position in shares of Snowflake in the fourth quarter valued at approximately $10,550,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.