Snowflake (NYSE:SNOW) EVP Sells $2,238,800.00 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $223.88, for a total value of $2,238,800.00. Following the sale, the executive vice president owned 532,450 shares of the company’s stock, valued at approximately $119,204,906. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 stock was 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.
• On Friday, August 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00.

Snowflake Trading Down 2.1%

NYSE SNOW opened at $235.42 on Friday. The firm has a market capitalization of $79.76 billion, a price-to-earnings ratio of -56.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a one year low of $111.15 and a one year high of $249.99. The company’s 50 day moving average price is $215.94 and its 200 day moving average price is $195.62.

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

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Scotiabank raised their target price on Snowflake from $230.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. UBS Group upped their price target on Snowflake from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Cowen reiterated a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. Finally, Wedbush upped their target price on shares of Snowflake from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $255.53.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Brighton Jones LLC increased its position in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Versant Capital Management Inc increased its holdings in Snowflake by 134.3% in the first quarter. Versant Capital Management Inc now owns 403 shares of the company’s stock valued at $59,000 after buying an additional 231 shares during the last quarter. GAMMA Investing LLC raised its stake in Snowflake by 29,543.2% during the first quarter. GAMMA Investing LLC now owns 115,905 shares of the company’s stock valued at $16,941,000 after buying an additional 115,514 shares in the last quarter. NBC Securities Inc. lifted its holdings in Snowflake by 124,333.3% during the 1st quarter. NBC Securities Inc. now owns 3,733 shares of the company’s stock worth $545,000 after buying an additional 3,730 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its position in shares of Snowflake by 286.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,679 shares of the company’s stock worth $245,000 after acquiring an additional 1,244 shares in the last quarter. 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.