Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells 10,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $205.67, for a total value of $2,056,700.00. Following the completion of the sale, the executive vice president now owns 570,632 shares in the company, valued at $117,361,883.44. The trade was a 1.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, May 22nd, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00.
• On Thursday, May 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $168.00, for a total value of $1,680,000.00.
• On Friday, April 25th, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $160.00, for a total value of $1,600,000.00.
• On Friday, March 21st, Christian Kleinerman sold 7,908 shares of Snowflake stock. The stock was sold at an average price of $154.67, for a total value of $1,223,130.36.
• On Tuesday, March 18th, Christian Kleinerman sold 3,765 shares of Snowflake stock. The stock was sold at an average price of $155.69, for a total value of $586,172.85.
• On Tuesday, March 11th, Christian Kleinerman sold 685 shares of Snowflake stock. The stock was sold at an average price of $147.24, for a total value of $100,859.40.

Snowflake Stock Performance

SNOW opened at $210.78 on Friday. The firm has a market cap of $70.37 billion, a P/E ratio of -62.18 and a beta of 1.21. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $214.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The business’s fifty day moving average is $169.37 and its 200-day moving average is $169.15.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SNOW shares. Citigroup reiterated an “outperform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Bank of America upped their price objective on Snowflake from $172.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Hsbc Global Res cut Snowflake from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald upped their price objective on Snowflake from $183.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $221.97.

Institutional Trading of Snowflake

Large investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in Snowflake in the first quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the fourth quarter valued at about $29,000. CVA Family Office LLC boosted its stake in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after buying an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake in the fourth quarter valued at about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Snowflake in the fourth quarter valued at about $31,000. 65.10% of the stock is 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.