Christian Kleinerman Sells 10,000 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares in the company, valued at approximately $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 31st, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $275.00, for a total value of $1,375,000.00.
• On Wednesday, October 8th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $250.00, for a total value of $1,250,000.00.
• On Wednesday, October 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $223.88, for a total value of $2,238,800.00.
• On Tuesday, September 23rd, Christian Kleinerman sold 2,611 shares of Snowflake stock. The shares were sold at an average price of $230.48, for a total value of $601,783.28.
• On Tuesday, September 16th, Christian Kleinerman sold 2,975 shares of Snowflake stock. The shares were sold at an average price of $221.24, for a total value of $658,189.00.
• On Tuesday, September 9th, Christian Kleinerman sold 548 shares of Snowflake stock. The shares were sold at an average price of $223.86, for a total value of $122,675.28.
• On Tuesday, September 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00.

Snowflake Stock Down 4.2%

Shares of NYSE:SNOW traded down $11.55 during midday trading on Tuesday, reaching $265.59. The company had a trading volume of 5,245,214 shares, compared to its average volume of 5,225,284. The business’s 50 day moving average price is $236.88 and its 200 day moving average price is $212.08. The stock has a market cap of $89.98 billion, a PE ratio of -64.00 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 1-year low of $113.65 and a 1-year high of $280.67.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently made changes to their positions in the stock. Coastline Trust Co lifted its stake in Snowflake by 1.0% during the third quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after purchasing an additional 42 shares during the last quarter. Capital Advantage Inc. lifted its stake in Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after purchasing an additional 48 shares during the last quarter. Wedbush Securities Inc. grew its position in Snowflake by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares during the last quarter. Avion Wealth raised its stake in Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Finally, CX Institutional lifted its holdings in shares of Snowflake by 13.2% in the third quarter. CX Institutional now owns 421 shares of the company’s stock worth $95,000 after acquiring an additional 49 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SNOW shares. Royal Bank Of Canada boosted their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Canaccord Genuity Group upped their target price on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Bank of America raised Snowflake from a “neutral” rating to a “buy” rating and upped their target price for the company from $220.00 to $240.00 in a research report on Wednesday, August 20th. Morgan Stanley upped their target price on Snowflake from $262.00 to $272.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Macquarie upped their target price on Snowflake from $210.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $258.95.

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.