Frank Slootman Sells 7,016 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 7,016 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $1,092,321.04. Following the transaction, the director now directly owns 182,999 shares of the company’s stock, valued at approximately $28,491,114.31. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, March 11th, Frank Slootman sold 1,783 shares of Snowflake stock. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92.
• On Wednesday, January 22nd, Frank Slootman sold 127,247 shares of Snowflake stock. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75.
• On Monday, December 30th, Frank Slootman sold 100,000 shares of Snowflake stock. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00.

Snowflake Price Performance

NYSE:SNOW traded up $1.53 during mid-day trading on Wednesday, hitting $155.89. 4,554,018 shares of the company’s stock traded hands, compared to its average volume of 6,383,736. 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 firm’s 50 day simple moving average is $173.01 and its 200 day simple moving average is $148.93. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a market cap of $51.46 billion, a PE ratio of -45.98 and a beta of 1.07.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Oppenheimer increased their price objective on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Citigroup increased their price objective on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Finally, Piper Sandler raised their price objective on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $202.92.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of the stock. 111 Capital purchased a new position in Snowflake during the fourth quarter worth $578,000. NorthCrest Asset Manangement LLC increased its position in Snowflake by 12.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock worth $1,202,000 after purchasing an additional 875 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in Snowflake during the 4th quarter worth about $2,007,000. Centaurus Financial Inc. increased its position in Snowflake by 15.8% during the 4th quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock worth $1,280,000 after purchasing an additional 1,132 shares in the last quarter. Finally, IronOak Wealth LLC. purchased a new stake in Snowflake during the 4th quarter worth about $633,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.