Snowflake Inc. (NYSE:SNOW) CFO Michael Scarpelli Sells 300,000 Shares

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

Snowflake Price Performance

SNOW stock opened at $157.01 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a 50-day moving average of $172.39 and a 200 day moving average of $150.74. The company has a market cap of $51.83 billion, a P/E ratio of -46.31 and a beta of 1.07.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SNOW shares. Royal Bank of Canada boosted their price objective on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. KeyCorp increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities lifted their price target on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Groupama Asset Managment bought a new stake in Snowflake during the third quarter worth about $25,000. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $29,000. West Paces Advisors Inc. bought a new stake in shares of Snowflake in the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake in the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake during the 4th quarter valued at approximately $31,000. Hedge funds and other 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.