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

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction 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 trade represents a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 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

SNOW stock opened at $171.60 on Tuesday. The company’s 50 day simple moving average is $121.23 and its 200-day simple moving average is $127.91. The firm has a market capitalization of $57.52 billion, a PE ratio of -50.62 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SNOW shares. TD Cowen boosted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $180.00 price target on shares of Snowflake in a research report on Thursday, November 21st. Scotiabank reduced their target price on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Royal Bank of Canada upped their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company upped their target price on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of the business. State Street Corp grew its position in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.