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

by · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the sale, the director now owns 208,735 shares in the company, valued at $36,582,896.10. The trade was a 8.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 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 shares were sold at an average price of $109.96, for a total transaction of $176,595.76.

Snowflake Price Performance

Shares of SNOW traded up $2.34 during mid-day trading on Wednesday, reaching $173.62. 6,959,448 shares of the company were exchanged, compared to its average volume of 6,817,471. The business has a 50 day simple moving average of $122.43 and a two-hundred day simple moving average of $128.01. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho upped their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Bank of America increased 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. Piper Sandler reiterated an “overweight” rating and issued a $185.00 price target (up previously from $165.00) on shares of Snowflake in a research note on Thursday, November 21st. Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, UBS Group dropped their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.09.

Check Out Our Latest Stock Analysis on SNOW

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. LRI Investments LLC increased its stake in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Snowflake during the third quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of Snowflake during the second quarter worth about $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC bought a new position in Snowflake in the 3rd quarter valued at about $34,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About Snowflake

(Get Free Report)

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.

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