Snowflake Inc. (NYSE:SNOW) EVP Sells $61,357.68 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 stock was sold at an average price of $142.98, for a total value of $2,144,700.00.
• On Thursday, June 20th, Christian Kleinerman sold 1,535 shares of Snowflake stock. The stock was sold at an average price of $125.93, for a total transaction of $193,302.55.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $112.00 on Thursday. The firm has a market capitalization of $37.54 billion, a PE ratio of -40.00 and a beta of 0.84. The firm’s 50-day moving average is $124.67 and its two-hundred day moving average is $143.76. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

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

Institutional Investors Weigh In On Snowflake

Institutional investors have recently modified their holdings of the company. AGF Management Ltd. purchased a new position in shares of Snowflake during the 4th quarter worth about $382,000. Dimensional Fund Advisors LP lifted its stake in Snowflake by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock worth $39,697,000 after purchasing an additional 10,575 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Snowflake by 17.5% in the 4th quarter. Principal Financial Group Inc. now owns 97,788 shares of the company’s stock valued at $19,460,000 after buying an additional 14,542 shares during the period. Avantax Advisory Services Inc. grew its holdings in shares of Snowflake by 26.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,722 shares of the company’s stock valued at $940,000 after purchasing an additional 986 shares during the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter worth $241,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNOW. Loop Capital lowered their price objective on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Citigroup cut their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a research note on Monday, July 1st. Finally, JPMorgan Chase & Co. increased their target price on Snowflake from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Two 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 company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

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.