Insider Selling: Snowflake Inc. (NYSE:SNOW) CEO Sells 1,701 Shares of Stock

Snowflake Inc. (NYSE:SNOW – Get Rating) CEO Frank Slootman sold 1,701 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $141.38, for a total value of $240,487.38. Following the completion of the sale, the chief executive officer now owns 130,241 shares of the company’s stock, valued at $18,413,472.58. The transaction was disclosed in a filing with the SEC, which is available through this link.

Snowflake Stock Up 4.8 %

Shares of Snowflake stock opened at $137.73 on Tuesday. Snowflake Inc. has a 52 week low of $110.26 and a 52 week high of $246.52. The company has a market capitalization of $44.29 billion, a PE ratio of -55.09 and a beta of 0.75. The stock’s fifty day moving average is $148.75 and its two-hundred day moving average is $156.08.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $215.00 price objective on shares of Snowflake in a research note on Thursday, March 2nd. Rosenblatt Securities lowered their price target on shares of Snowflake from $200.00 to $188.00 in a report on Friday, March 3rd. Cowen reduced their price objective on shares of Snowflake from $235.00 to $225.00 in a research note on Thursday, December 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Snowflake from $185.00 to $170.00 in a research note on Monday, January 23rd. Finally, Piper Sandler reiterated a “buy” rating and issued a $194.00 price target on shares of Snowflake in a research note on Thursday, March 2nd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.75.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Credit Suisse AG boosted its position in Snowflake by 5.3% in the 3rd quarter. Credit Suisse AG now owns 300,472 shares of the company’s stock valued at $51,068,000 after buying an additional 15,034 shares during the period. E&G Advisors LP boosted its holdings in shares of Snowflake by 7.1% in the third quarter. E&G Advisors LP now owns 1,820 shares of the company’s stock valued at $309,000 after purchasing an additional 120 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in shares of Snowflake by 54.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,624 shares of the company’s stock valued at $921,000 after purchasing an additional 2,342 shares during the period. Nordea Investment Management AB increased its holdings in Snowflake by 12.0% during the 3rd quarter. Nordea Investment Management AB now owns 256,210 shares of the company’s stock worth $44,594,000 after purchasing an additional 27,383 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Snowflake by 8.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 662,261 shares of the company’s stock valued at $112,558,000 after purchasing an additional 52,666 shares in the last quarter. 65.31% of the stock is currently owned by institutional investors.

Snowflake Company Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.