Snowflake Inc. (NYSE:SNOW) EVP Sells $346,487.31 in 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 stock was sold at an average price of $114.39, for a total transaction of $346,487.31. Following the transaction, the executive vice president now owns 753,464 shares of the company’s stock, valued at approximately $86,188,746.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 transaction 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 value of $1,800,000.00.
• On Friday, July 5th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The stock was sold at an average price of $142.98, for a total value 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 Trading Up 2.9 %

Shares of SNOW opened at $114.00 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The firm has a market capitalization of $38.21 billion, a P/E ratio of -40.71 and a beta of 0.83. The firm’s 50-day moving average is $121.87 and its two-hundred day moving average is $140.21.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.52) EPS. Analysts predict that Snowflake Inc. will post -2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SNOW shares. Stifel Nicolaus cut their price objective on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Robert W. Baird reduced their price target on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Canaccord Genuity Group decreased their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 target price on shares of Snowflake in a report on Monday, July 1st. Finally, Wells Fargo & Company decreased their target price on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Two 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 stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Comerica Bank increased its holdings in Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after acquiring an additional 4,296 shares in the last quarter. Choreo LLC increased its stake in shares of Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after purchasing an additional 1,294 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after purchasing an additional 43,062 shares during the last quarter. Trexquant Investment LP lifted its stake in Snowflake by 266.3% in the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after buying an additional 7,633 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Snowflake during the 1st quarter valued at $244,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

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.