Snowflake Inc. Director Sells Shares Worth $306,448

On December 10th, Snowflake Inc. (NYSE:SNOW) experienced a significant transaction as Frank Slootman, a director at the company, sold 1,712 shares of his stock. The shares were sold at an average price of $179.00, leading to a total transaction value of $306,448.00. This sale impacted Slootman's holdings, reducing his direct ownership to 205,965 shares, which are currently valued at approximately $36,867,735.

The sale caused a decrease of 0.82% in Slootman's overall position in the company. The details of the transaction were officially reported in a document filed with the SEC, making this information public.

Snowflake Price Overview

The stock market appears to be fluctuating. On the most recent trading day, NYSE:SNOW opened at $172.03. Over the past year, the stock has seen a low of $107.13 and a high of $237.72. The company's moving averages currently stand at $136.69 for the 50-day and $129.45 for the 200-day periods. Snowflake holds a market capitalization of approximately $56.79 billion with a P/E ratio of -50.75.

Recent Insider Trading

In a related context, another executive at Snowflake, Christian Kleinerman, also sold shares recently. On December 10th, he sold 558 shares at $179.00, totaling around $99,882. His remaining shares amount to 690,647, valued at about $123,625,813, indicating a smaller decrease of 0.08% in his ownership stake in the company. Kleinerman has made several trades this past quarter, selling significant amounts of stock on multiple occasions.

Analyst Insights on Stock Performance

Market analysts have been active in their assessment of Snowflake's stock performance, with several recent ratings suggesting favorable outlooks. Truist Financial reiterated a "buy" rating with a target price of $210.00, while Wells Fargo raised its target from $125.00 to $150.00, also maintaining an "equal weight" rating. Additional reports showed significant upgrades to "outperform" ratings and target price increases from analysts at Wedbush and TD Cowen. This indicates a generally positive sentiment among market experts regarding Snowflake's future performance.

Institutional Investment Activity

The landscape of institutional investment in Snowflake has also shown notable changes. Various large investors increased their stakes in the company in recent quarters. For instance, LRI Investments LLC boosted its ownership by 155.6%, among other institutions who made significant investments. Currently, around 65.10% of Snowflake's stock is held by hedge funds and institutional investors.

Conclusion

Snowflake Inc. continues to engage both executives and institutional investors actively, as observed with recent stock sales and analyst ratings. With ongoing developments, investors are keen to monitor the company's stock performance and insider trading activities.

Snowflake, Trading, Stocks