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

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

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

• On Friday, October 31st, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 Trading Down 4.2%

NYSE SNOW traded down $11.55 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 firm has a market cap of $89.98 billion, a price-to-earnings ratio of -64.00 and a beta of 1.23. Snowflake Inc. has a fifty-two week low of $113.65 and a fifty-two week high of $280.67. The business has a 50 day moving average of $236.88 and a two-hundred day moving average of $212.08. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $1.14 billion during 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%.Snowflake’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Trading of Snowflake

Several large investors have recently made changes to their positions in the company. Coastline Trust Co grew its stake in shares of Snowflake by 1.0% in the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock valued at $943,000 after buying an additional 42 shares during the period. Capital Advantage Inc. lifted its position in Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares in the last quarter. Wedbush Securities Inc. lifted its position in Snowflake by 1.3% in the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth lifted its position in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. Finally, CX Institutional lifted its position in Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after acquiring an additional 49 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. KeyCorp increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Robert W. Baird increased their price target on Snowflake from $215.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Oppenheimer reiterated an “outperform” rating and set a $295.00 price target on shares of Snowflake in a report on Friday, October 17th. Stephens assumed coverage on Snowflake in a report on Friday, July 18th. They set an “overweight” rating and a $261.00 price target for the company. Finally, Royal Bank Of Canada increased their price target on Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently 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.