Snowflake (NYSE:SNOW) Stock Price Down 0.9% on Insider Selling

Snowflake Inc. (NYSE:SNOW)’s share price traded down 0.9% on Thursday following insider selling activity. The stock traded as low as $160.65 and last traded at $161.12. 1,563,819 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 6,763,973 shares. The stock had previously closed at $162.59.

Specifically, EVP Christian Kleinerman sold 3,029 shares of Snowflake stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total value of $517,959.00. Following the completion of the transaction, the executive vice president now directly owns 684,639 shares of the company’s stock, valued at $117,073,269. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 6,714 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the sale, the director now owns 196,454 shares in the company, valued at $33,593,634. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

SNOW has been the topic of several analyst reports. Wedbush cut Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Argus assumed coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. Jefferies Financial Group increased their price target on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Royal Bank of Canada lifted their price objective 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. Finally, Bank of America boosted their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $184.46.

Snowflake Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $54.89 billion, a price-to-earnings ratio of -49.05 and a beta of 1.03. The company’s fifty day moving average is $143.77 and its two-hundred day moving average is $130.66.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank lifted its holdings in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the period. Independent Advisor Alliance increased its holdings in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after buying an additional 36,704 shares in the last quarter. Finally, Sender Co & Partners Inc. grew its position in Snowflake by 100.9% during the third quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock valued at $979,000 after buying an additional 4,280 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.