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

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 20,514 shares of the firm’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 transaction of $3,595,283.64. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,582,896.10. This represents a 8.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was 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 value of $176,595.76.

Snowflake Price Performance

SNOW opened at $173.62 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market capitalization of $58.20 billion, a P/E ratio of -51.22 and a beta of 0.83. The business has a 50 day simple moving average of $123.68 and a 200-day simple moving average of $128.32.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank increased its holdings in shares of Snowflake by 17.2% in the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Snowflake by 23.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after buying an additional 43,062 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Snowflake by 201.5% during the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock valued at $10,292,000 after acquiring an additional 42,563 shares during the period. Fulton Bank N.A. boosted its stake in shares of Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after acquiring an additional 228 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Snowflake by 77.0% in the 2nd quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock worth $17,992,000 after acquiring an additional 57,960 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. JMP Securities lowered their target price on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price 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.