Insider Selling: Snowflake Inc. (NYSE:SNOW) CFO Sells 300,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Snowflake Stock Down 4.1 %

NYSE SNOW opened at $150.60 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market capitalization of $49.71 billion, a PE ratio of -44.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50-day moving average is $171.99 and its 200 day moving average is $151.30.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Piper Sandler increased their price objective on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Monness Crespi & Hardt lifted their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company raised their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Finally, Citigroup lifted their price target on Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Institutional Investors Weigh In On Snowflake

A number of large investors have recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $29,000. West Paces Advisors Inc. purchased a new position in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake during the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in Snowflake in the 4th quarter worth $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of Snowflake in the 4th quarter worth about $32,000. 65.10% of the stock is currently owned by institutional investors.

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.