Christian Kleinerman Sells 2,729 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,729 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $239.00, for a total transaction of $652,231.00. Following the transaction, the executive vice president owned 413,002 shares in the company, valued at approximately $98,707,478. The trade was a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, June 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $272.00, for a total transaction of $2,720,000.00.
• On Thursday, May 28th, Christian Kleinerman sold 100 shares of Snowflake stock. The stock was sold at an average price of $236.77, for a total transaction of $23,677.00.
• On Thursday, May 28th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $236.77, for a total transaction of $1,183,850.00.
• On Monday, March 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21.
• On Tuesday, March 17th, Christian Kleinerman sold 2,986 shares of Snowflake stock. The stock was sold at an average price of $175.34, for a total value of $523,565.24.

Snowflake Stock Up 0.2%

NYSE SNOW opened at $240.31 on Friday. The business has a fifty day moving average price of $172.06 and a two-hundred day moving average price of $189.92. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The stock has a market capitalization of $83.29 billion, a PE ratio of -68.27 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 33.5% on a year-over-year basis. Equities analysts expect that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SNOW shares. Cantor Fitzgerald upped their target price on Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. DA Davidson upped their target price on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. KeyCorp set a $295.00 target price on Snowflake in a research note on Thursday, May 28th. Bank of America increased their price objective on shares of Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Wells Fargo & Company increased their price objective on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. raised its stake in shares of Snowflake by 99.1% during the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after acquiring an additional 98,870 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Snowflake during the third quarter valued at $116,882,000. Swedbank AB raised its stake in shares of Snowflake by 6.0% during the fourth quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock valued at $291,840,000 after acquiring an additional 75,419 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Snowflake by 3.1% during the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after acquiring an additional 857,832 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.