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

by · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) Director Frank Slootman sold 45,896 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 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 Stock Performance

NYSE SNOW traded up $4.16 during trading on Monday, reaching $171.60. 15,240,402 shares of the company’s stock were exchanged, compared to its average volume of 6,812,997. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The stock has a market cap of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83. The company has a 50 day moving average price of $121.23 and a two-hundred day moving average price of $127.91.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Needham & Company LLC upped their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Bank of America increased their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and lifted their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Finally, Royal Bank of Canada raised their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Read Our Latest Stock Report on Snowflake

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. LRI Investments LLC raised 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 acquiring an additional 112 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Snowflake in the third quarter valued at approximately $25,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake during the third quarter worth $30,000. Finally, Fortitude Family Office LLC purchased a new position in Snowflake in the 3rd quarter valued at $34,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

(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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