Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman Sells 15,000 Shares

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Christian Kleinerman also recently made the following trade(s):

• On Thursday, October 10th, Christian Kleinerman sold 30,000 shares of Snowflake stock. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00.
• On Monday, September 23rd, Christian Kleinerman sold 861 shares of Snowflake stock. The stock was sold at an average price of $111.41, for a total value of $95,924.01.
• On Tuesday, September 17th, Christian Kleinerman sold 3,029 shares of Snowflake stock. The stock was sold at an average price of $114.39, for a total transaction of $346,487.31.
• On Tuesday, September 10th, Christian Kleinerman sold 558 shares of Snowflake stock. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68.

Snowflake Stock Down 2.1 %

Shares of NYSE SNOW opened at $120.89 on Friday. The business has a 50-day moving average price of $115.15 and a 200 day moving average price of $129.65. The stock has a market cap of $40.52 billion, a PE ratio of -39.50 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.52) earnings per share. Sell-side analysts anticipate that Snowflake Inc. will post -2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JMP Securities dropped their target price on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a report on Thursday, August 22nd. Piper Sandler reiterated an “overweight” rating and issued a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Argus started coverage on Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. HSBC upgraded shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC boosted its stake in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake in the 2nd quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in Snowflake in the 2nd quarter valued at $39,000. 65.10% of the stock is owned by hedge funds and other 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.