Snowflake (NYSE:SNOW) Stock Price Down 1.1% on Insider Selling

Snowflake Inc. (NYSE:SNOW) was down 1.1% during trading on Thursday after an insider sold shares in the company. The company traded as low as $182.30 and last traded at $184.44. Approximately 2,171,272 shares traded hands during trading, a decline of 68% from the average daily volume of 6,804,548 shares. The stock had previously closed at $186.51.

Specifically, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the transaction, the executive now owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. This trade represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In other Snowflake news, Director Frank Slootman sold 2,218 shares of Snowflake stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total value of $388,150.00. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,528,625. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNOW. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Royal Bank of Canada upped their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Canaccord Genuity Group lowered their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Barclays boosted their price objective on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $182.31.

Snowflake Stock Up 0.3 %

The business’s fifty day simple moving average is $131.51 and its 200 day simple moving average is $129.20. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a market cap of $61.52 billion, a price-to-earnings ratio of -54.41 and a beta of 1.03.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of the company. LRI Investments LLC grew its stake in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake during the 2nd quarter worth approximately $27,000. Groupama Asset Managment bought a new stake in shares of Snowflake during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the second quarter valued at $39,000. 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.