Snowflake Inc. (NYSE:SNOW) EVP Sells 3,029 Shares of Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 3,029 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $346,487.31. Following the transaction, the executive vice president now directly owns 753,464 shares in the company, valued at $86,188,746.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $61,357.68.
• On Wednesday, August 7th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00.
• On Friday, July 5th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00.
• On Thursday, June 20th, Christian Kleinerman sold 1,535 shares of Snowflake stock. The stock was sold at an average price of $125.93, for a total value of $193,302.55.

Snowflake Stock Performance

NYSE:SNOW opened at $110.26 on Friday. The business’s fifty day moving average is $120.87 and its 200 day moving average is $139.56. The firm has a market cap of $36.96 billion, a price-to-earnings ratio of -39.38 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 released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.52) EPS. Equities analysts predict that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Royal Bank of Canada lowered their price target on Snowflake from $226.00 to $183.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. HSBC raised Snowflake from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Evercore ISI dropped their price target on Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of Snowflake in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.03.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in SNOW. Swedbank AB purchased a new position in shares of Snowflake during the first quarter worth approximately $258,957,000. Vanguard Group Inc. raised its position in Snowflake by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Snowflake in the first quarter worth $171,608,000. Cibc World Markets Corp purchased a new stake in Snowflake during the fourth quarter valued at about $147,120,000. Finally, AQR Capital Management LLC grew its stake in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares during 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.