Snowflake (NYSE:SNOW) Shares Down 0.8% Following Insider Selling

Snowflake Inc. (NYSE:SNOW) shares dropped 0.8% during trading on Monday after an insider sold shares in the company. The stock traded as low as $140.89 and last traded at $141.81. Approximately 1,062,378 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,591,136 shares. The stock had previously closed at $143.02.

Specifically, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the sale, the executive vice president now owns 733,773 shares in the company, valued at approximately $104,914,863.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the transaction, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $142.98, for a total transaction of $2,144,700.00. Following the transaction, the executive vice president now owns 733,773 shares in the company, valued at approximately $104,914,863.54. The disclosure for this sale can be found here. Insiders sold a total of 534,960 shares of company stock valued at $67,198,020 over the last ninety days. Insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price on shares of Snowflake in a research note on Wednesday, June 5th. Oppenheimer reiterated an “outperform” rating and issued a $220.00 target price on shares of Snowflake in a research note on Thursday, May 23rd. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of Snowflake in a research note on Thursday, June 6th. Finally, Barclays raised their target price on shares of Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $199.46.

Snowflake Stock Up 0.0 %

The stock has a market cap of $46.03 billion, a price-to-earnings ratio of -47.72 and a beta of 0.85. The stock’s fifty day moving average is $144.04 and its 200-day moving average is $170.30.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, equities research analysts predict that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Linden Thomas Advisory Services LLC bought a new stake in shares of Snowflake in the second quarter worth $1,395,000. CWM LLC lifted its position in shares of Snowflake by 19.6% in the second quarter. CWM LLC now owns 121,281 shares of the company’s stock worth $16,384,000 after purchasing an additional 19,917 shares in the last quarter. Grassi Investment Management lifted its position in shares of Snowflake by 7.2% in the second quarter. Grassi Investment Management now owns 62,200 shares of the company’s stock worth $8,403,000 after purchasing an additional 4,200 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Snowflake by 13.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 1,515 shares of the company’s stock worth $205,000 after purchasing an additional 183 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Snowflake by 10.7% in the second quarter. Harbor Capital Advisors Inc. now owns 7,531 shares of the company’s stock worth $1,017,000 after purchasing an additional 727 shares in the last quarter. 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.