Snowflake Inc. (NYSE:SNOW) Director Frank Slootman Sells 20,514 Shares

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total value of $3,595,283.64. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $36,582,896.10. This represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 value of $8,080,449.76.
• 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 value 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 Trading Up 1.4 %

NYSE:SNOW opened at $173.70 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock has a 50-day moving average price of $124.88 and a two-hundred day moving average price of $128.64. The stock has a market cap of $58.22 billion, a price-to-earnings ratio of -51.24 and a beta of 0.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNOW shares. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their target price on Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Scotiabank dropped their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $181.09.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after buying an additional 7,373 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after acquiring an additional 1,352 shares during the period. Blankinship & Foster LLC bought a new stake in Snowflake in the 3rd quarter valued at $896,000. Wilmington Savings Fund Society FSB boosted its stake in Snowflake by 50.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock worth $535,000 after purchasing an additional 1,559 shares during the period. Finally, Sanctuary Advisors LLC increased its holdings in Snowflake by 2.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,328 shares of the company’s stock worth $2,909,000 after purchasing an additional 514 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.