Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells $618,800.00 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,975 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $208.00, for a total transaction of $618,800.00. Following the transaction, the executive vice president now directly owns 562,609 shares of the company’s stock, valued at approximately $117,022,672. This trade represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, June 10th, Christian Kleinerman sold 548 shares of Snowflake stock. The shares were sold at an average price of $209.96, for a total transaction of $115,058.08.
• On Monday, June 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $205.67, for a total transaction of $2,056,700.00.
• 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 transaction 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 transaction 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 transaction of $1,600,000.00.
• On Friday, March 21st, Christian Kleinerman sold 7,908 shares of Snowflake stock. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36.

Snowflake Trading Down 0.1%

NYSE:SNOW opened at $211.84 on Friday. The company’s 50 day moving average price is $183.12 and its 200-day moving average price is $172.04. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $215.99. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $70.73 billion, a price-to-earnings ratio of -50.32 and a beta of 1.21.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Robert W. Baird boosted their price target on shares of Snowflake from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Citigroup reiterated an “outperform” rating on shares of Snowflake in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price target on shares of Snowflake in a research report on Thursday, June 5th. Finally, Monness Crespi & Hardt boosted their price target on shares of Snowflake from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Brighton Jones LLC lifted its position in Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Van ECK Associates Corp lifted its position in Snowflake by 90.2% during the fourth quarter. Van ECK Associates Corp now owns 8,194 shares of the company’s stock valued at $1,265,000 after purchasing an additional 3,886 shares during the period. V Square Quantitative Management LLC lifted its position in Snowflake by 240.2% during the fourth quarter. V Square Quantitative Management LLC now owns 888 shares of the company’s stock valued at $139,000 after purchasing an additional 627 shares during the period. Principal Securities Inc. lifted its position in Snowflake by 50.2% during the fourth quarter. Principal Securities Inc. now owns 7,418 shares of the company’s stock valued at $1,145,000 after purchasing an additional 2,478 shares during the period. Finally, Sheaff Brock Investment Advisors LLC bought a new position in Snowflake during the fourth quarter valued at approximately $218,000. 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.