Frank Slootman Sells 59,617 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 59,617 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $36,789,543.75. This represents a 22.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, November 26th, Frank Slootman sold 20,514 shares of Snowflake stock. The shares were sold at an average price of $175.26, for a total transaction of $3,595,283.64.
• On Friday, November 22nd, Frank Slootman sold 45,896 shares of Snowflake stock. The stock was sold at an average price of $176.06, for a total transaction 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 Stock Performance

Shares of NYSE SNOW traded down $2.47 during mid-day trading on Monday, reaching $172.33. 5,826,569 shares of the company traded hands, compared to its average volume of 6,803,063. The stock has a market cap of $57.77 billion, a PE ratio of -50.76 and a beta of 0.83. The company’s fifty day moving average is $126.17 and its two-hundred day moving average is $128.27. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Modus Advisors LLC grew its holdings in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC grew its holdings in Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after buying an additional 104 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after buying an additional 108 shares during the last quarter. LRI Investments LLC grew its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the last quarter. Finally, Hoylecohen LLC grew its holdings in shares of Snowflake by 2.7% during the 2nd quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock worth $589,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research reports. Evercore ISI boosted their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Truist Financial restated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup lowered their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, Monness Crespi & Hardt upped their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.