Snowflake Inc. (NYSE:SNOW) Director Sells $8,080,449.76 in Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 26th, Frank Slootman sold 20,514 shares of Snowflake stock. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64.
• On Tuesday, September 17th, Frank Slootman sold 6,251 shares of Snowflake stock. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89.
• On Tuesday, September 10th, Frank Slootman sold 1,606 shares of Snowflake stock. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76.

Snowflake Stock Up 1.4 %

Shares of NYSE:SNOW opened at $173.62 on Thursday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a 50 day moving average of $123.68 and a two-hundred day moving average of $128.32. The company has a market capitalization of $58.20 billion, a price-to-earnings ratio of -51.22 and a beta of 0.83.

Institutional Trading of Snowflake

Several large investors have recently bought and sold shares of SNOW. Modus Advisors LLC grew its position in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares in the last quarter. Catalyst Private Wealth LLC grew its position in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Snowflake by 30.3% during the first quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after buying an additional 108 shares in the last quarter. LRI Investments LLC grew its position in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares in the last quarter. Finally, Hoylecohen LLC grew its position in shares of Snowflake by 2.7% during the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock worth $589,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SNOW. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. KeyCorp upped their target price on shares of Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Citigroup reduced their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, Royal Bank of Canada upped their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, 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.