Insider Selling: Snowflake Inc. (NYSE:SNOW) Director Sells $15,500,000.00 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This trade represents a 33.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 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 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 transaction 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 Stock Performance

NYSE:SNOW opened at $162.22 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $53.55 billion, a PE ratio of -47.85 and a beta of 1.03. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The stock’s 50-day simple moving average is $151.98 and its 200 day simple moving average is $132.71.

Institutional Investors Weigh In On Snowflake

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNOW. Monness Crespi & Hardt upped their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Truist Financial restated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Wedbush downgraded Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.