Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman Sells 3,029 Shares

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 3,029 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $346,487.31. Following the sale, the executive vice president now owns 753,464 shares in the company, valued at $86,188,746.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, September 10th, Christian Kleinerman sold 558 shares of Snowflake stock. The shares were sold at an average price of $109.96, for a total value of $61,357.68.
• On Wednesday, August 7th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00.
• On Friday, July 5th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00.
• On Thursday, June 20th, Christian Kleinerman sold 1,535 shares of Snowflake stock. The shares were sold at an average price of $125.93, for a total transaction of $193,302.55.

Snowflake Stock Performance

Shares of NYSE:SNOW traded down $0.85 on Wednesday, reaching $110.78. The company’s stock had a trading volume of 6,474,586 shares, compared to its average volume of 6,563,695. The company has a 50-day simple moving average of $121.87 and a 200 day simple moving average of $140.21. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a market cap of $37.09 billion, a P/E ratio of -39.56 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the firm earned ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities research analysts forecast that Snowflake Inc. will post -2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Large investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. lifted its position in Snowflake by 27.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock worth $451,000 after buying an additional 722 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Snowflake in the 2nd quarter worth about $530,000. Sanctuary Advisors LLC bought a new stake in shares of Snowflake in the 2nd quarter worth about $3,352,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Snowflake during the 2nd quarter worth about $142,000. Finally, Cetera Investment Advisers grew its holdings in Snowflake by 8.0% during the 2nd quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock valued at $9,294,000 after purchasing an additional 5,112 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNOW. Wells Fargo & Company lowered their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Loop Capital dropped their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of Snowflake in a research report on Monday, August 19th. Macquarie cut their price target on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $220.00 price objective on shares of Snowflake in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $176.03.

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.