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 dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 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 transaction 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 stock was 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 shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76.

Snowflake Stock Up 3.0 %

Shares of NYSE SNOW opened at $162.22 on Friday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. 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 business has a fifty day moving average of $151.98 and a two-hundred day moving average of $132.67. The stock has a market cap of $53.55 billion, a PE ratio of -47.85 and a beta of 1.03.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. State Street Corp increased its holdings in shares of Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares in the last quarter. Geode Capital Management LLC increased its holdings in Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Two Sigma Advisers LP raised its position in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SNOW shares. Barclays increased their price target on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Wedbush cut Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial reissued a “buy” rating and set a $210.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a report on Tuesday, November 19th. Finally, KeyCorp increased their price target on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.03.

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.