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

Snowflake Inc. (NYSE:SNOW)’s share price dropped 2.9% during trading on Monday following insider selling activity. The company traded as low as $161.16 and last traded at $161.43. Approximately 1,436,386 shares were traded during mid-day 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 company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total transaction of $142,331.91. Following the transaction, the executive vice president now owns 582,930 shares of the company’s stock, valued at approximately $96,364,158.30. This represents a 0.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 3,029 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $517,959.00. Following the sale, the executive vice president now directly owns 684,639 shares of the company’s stock, valued at $117,073,269. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Snowflake news, Director Frank Slootman sold 6,714 shares of Snowflake stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Jefferies Financial Group increased their target price on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Wedbush downgraded shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Barclays increased their price target on Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, Scotiabank boosted their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Snowflake Stock Performance

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 market cap of $53.83 billion, a price-to-earnings ratio of -48.10 and a beta of 1.02. The stock has a fifty day simple moving average of $145.35 and a two-hundred day simple moving average of $131.03.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SNOW. Groupama Asset Managment bought a new stake in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the third quarter worth $34,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Snowflake by 81.3% during the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.