Insider Selling: Snowflake Inc. (NYSE:SNOW) CFO Sells $48,963,000.00 in Stock

Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Snowflake Trading Down 4.1 %

Shares of SNOW stock opened at $150.60 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $171.99 and a 200-day moving average of $151.30. The firm has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNOW. Evercore ISI boosted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Needham & Company LLC raised their target price on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Monness Crespi & Hardt upped their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Piper Sandler increased their price target on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.08.

Institutional Trading of Snowflake

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Snowflake by 1,325.2% in the 4th quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after acquiring an additional 100,912 shares during the last quarter. 111 Capital bought a new position in Snowflake during the fourth quarter worth about $578,000. NorthCrest Asset Manangement LLC increased its stake in shares of Snowflake by 12.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock worth $1,202,000 after purchasing an additional 875 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $2,007,000. Finally, Centaurus Financial Inc. lifted its stake in shares of Snowflake by 15.8% during the 4th quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock valued at $1,280,000 after buying an additional 1,132 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.