Insider Selling: Snowflake (NYSE:SNOW) EVP Sells 2,975 Shares of Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,975 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $212.45, for a total value of $632,038.75. Following the transaction, the executive vice president directly owned 504,427 shares in the company, valued at approximately $107,165,516.15. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, December 9th, Christian Kleinerman sold 548 shares of Snowflake stock. The stock was sold at an average price of $223.31, for a total value of $122,373.88.
• On Monday, December 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $249.53, for a total value of $2,495,300.00.
• On Monday, November 3rd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $277.73, for a total value of $2,777,300.00.
• 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 transaction 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 transaction 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 transaction 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 transaction of $601,783.28.

Snowflake Stock Performance

NYSE:SNOW traded up $5.17 during mid-day trading on Tuesday, reaching $220.45. The stock had a trading volume of 4,751,934 shares, compared to its average volume of 5,258,197. Snowflake Inc. has a twelve month low of $120.10 and a twelve month high of $280.67. The business has a 50 day simple moving average of $249.69 and a 200 day simple moving average of $227.60. The firm has a market capitalization of $74.69 billion, a price-to-earnings ratio of -54.57 and a beta of 1.09. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SNOW shares. Mizuho raised their target price on Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a report on Monday, November 17th. JPMorgan Chase & Co. raised their price objective on shares of Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. JMP Securities boosted their price objective on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Barclays increased their target price on shares of Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Morgan Stanley boosted their price target on Snowflake from $272.00 to $299.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five 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, the company currently has an average rating of “Moderate Buy” and an average target price of $275.32.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Snowflake by 73.9% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,924 shares of the company’s stock worth $573,000 after purchasing an additional 1,668 shares during the period. Aberdeen Group plc lifted its stake in shares of Snowflake by 4.7% in the 1st quarter. Aberdeen Group plc now owns 57,128 shares of the company’s stock valued at $8,350,000 after purchasing an additional 2,549 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Snowflake in the 1st quarter valued at about $723,000. Finally, Algert Global LLC purchased a new stake in shares of Snowflake during the 1st quarter worth about $398,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.