Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 45,896 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were 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 $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, September 17th, Frank Slootman sold 6,251 shares of Snowflake stock. The shares were 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 Performance

Snowflake stock opened at $171.60 on Tuesday. The firm’s 50-day moving average is $121.23 and its 200-day moving average is $127.91. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a market cap of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada increased their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Scotiabank cut their price target on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Argus initiated coverage on shares of Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating on the stock. Finally, Canaccord Genuity Group cut their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $181.09.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNOW. ProShare Advisors LLC lifted its position in shares of Snowflake by 26.1% in the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after buying an additional 295 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Snowflake by 132.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 5,810 shares of the company’s stock worth $939,000 after buying an additional 3,310 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of Snowflake in the 1st quarter worth about $238,000. LRI Investments LLC bought a new stake in Snowflake in the 1st quarter valued at about $29,000. Finally, BOKF NA lifted its position in Snowflake by 1,424.9% in the 1st quarter. BOKF NA now owns 7,960 shares of the company’s stock valued at $1,278,000 after purchasing an additional 7,438 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.