Snowflake (NYSE:SNOW) Stock Price Down 2.9% on Insider Selling

Snowflake Inc. (NYSE:SNOW)’s stock price dropped 2.9% during trading on Monday after an insider sold shares in the company. The stock traded as low as $161.16 and last traded at $161.43. Approximately 1,436,386 shares traded hands during trading, a decline of 79% from the average daily volume of 6,754,512 shares. The stock had previously closed at $166.29.

Specifically, EVP Christian Kleinerman sold 861 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the sale, the executive vice president now directly owns 582,930 shares of the company’s stock, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 3,029 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $517,959.00. Following the completion of the sale, the executive vice president now owns 684,639 shares of the company’s stock, valued at approximately $117,073,269. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Frank Slootman sold 6,714 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $1,148,094.00. Following the transaction, the director now owns 196,454 shares of the company’s stock, valued at approximately $33,593,634. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities analysts recently weighed in on SNOW shares. JMP Securities restated a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Barclays increased 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, December 6th. Scotiabank upped their price target on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group upped their price target on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $185.03.

Snowflake Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $53.83 billion, a PE ratio of -48.10 and a beta of 1.02. The company has a fifty day moving average of $145.35 and a 200-day moving average of $131.03.

Institutional Trading of Snowflake

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $27,000. Groupama Asset Managment acquired a new position in Snowflake in the third quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in Snowflake during the third quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the third quarter valued at approximately $34,000. Finally, Larson Financial Group LLC grew its stake in shares of Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares during the period. Institutional investors own 65.10% of the company’s stock.

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.