Michael Scarpelli Sells 300,000 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Snowflake Trading Down 4.1 %

Shares of SNOW opened at $150.60 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07. The firm has a 50 day moving average price of $171.99 and a 200-day moving average price of $151.02. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently added to or reduced their stakes in the business. Groupama Asset Managment bought a new position in shares of Snowflake during the third quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake during the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNOW shares. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Finally, Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Company Profile

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.