Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman Sells 558 Shares

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 stock was 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 shares were sold at an average price of $125.93, for a total value of $193,302.55.

Snowflake Stock Performance

Snowflake stock opened at $112.00 on Thursday. The business’s fifty day moving average is $124.67 and its two-hundred day moving average is $143.76. The firm has a market cap of $37.54 billion, a P/E ratio of -40.00 and a beta of 0.84. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the prior year, the company earned ($0.52) EPS. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. On average, equities research analysts predict that Snowflake Inc. will post -2.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Sanford C. Bernstein increased their target price on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Mizuho dropped their target price on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Bank of America cut their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target 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 assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.03.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently modified their holdings of SNOW. Vanguard Group Inc. raised its position in Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after purchasing an additional 297,428 shares during the last quarter. Jennison Associates LLC boosted its stake in Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after acquiring an additional 249,249 shares during the last quarter. Sands Capital Management LLC boosted its stake in Snowflake by 12.6% in the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock valued at $1,083,238,000 after acquiring an additional 610,970 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake during the fourth quarter worth $838,455,000. Finally, Legal & General Group Plc grew its position in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.