Frank Slootman Sells 100,000 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 17th, Frank Slootman sold 6,714 shares of Snowflake stock. The shares were sold at an average price of $171.00, for a total value of $1,148,094.00.
• On Tuesday, December 10th, Frank Slootman sold 1,712 shares of Snowflake stock. The shares were sold at an average price of $179.00, for a total value of $306,448.00.
• On Tuesday, December 3rd, Frank Slootman sold 2,218 shares of Snowflake stock. The shares were sold at an average price of $175.00, for a total value of $388,150.00.
• On Friday, November 29th, Frank Slootman sold 59,617 shares of Snowflake stock. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25.
• 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 value of $3,595,283.64.
• On Friday, November 22nd, Frank Slootman sold 45,896 shares of Snowflake stock. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76.

Snowflake Price Performance

NYSE:SNOW opened at $157.51 on Friday. The stock has a market cap of $51.99 billion, a PE ratio of -46.46 and a beta of 1.03. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. 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 stock has a 50 day moving average price of $150.20 and a 200 day moving average price of $132.28.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNOW. Ontario Teachers Pension Plan Board grew its position in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the period. Two Sigma Advisers LP boosted its position in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the period. AQR Capital Management LLC boosted its position in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after buying an additional 660,168 shares during the period. SG Americas Securities LLC boosted its position in shares of Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after buying an additional 628,511 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Snowflake by 90.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wedbush downgraded Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Evercore ISI upped their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Finally, KeyCorp upped their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.03.

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.