Christian Kleinerman Sells 30,000 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total value of $3,600,000.00. Following the sale, the executive vice president now owns 721,755 shares of the company’s stock, valued at $86,610,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, September 23rd, Christian Kleinerman sold 861 shares of Snowflake stock. The stock was sold at an average price of $111.41, for a total value of $95,924.01.
• On Tuesday, September 17th, Christian Kleinerman sold 3,029 shares of Snowflake stock. The stock was sold at an average price of $114.39, for a total value of $346,487.31.
• 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 shares were sold at an average price of $120.00, for a total value of $1,800,000.00.

Snowflake Trading Up 0.2 %

Shares of Snowflake stock opened at $124.03 on Friday. The firm has a market capitalization of $41.57 billion, a PE ratio of -40.53 and a beta of 0.83. The business’s 50-day moving average price is $116.35 and its 200-day moving average price is $134.53. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.52) EPS. As a group, analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Canaccord Genuity Group reduced their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Wednesday, October 2nd. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. JMP Securities reduced their price objective on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Finally, HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and increased their price target for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.74.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently modified their holdings of SNOW. Comerica Bank grew its position in Snowflake by 17.2% during the 1st quarter. Comerica Bank now owns 29,267 shares of the company’s stock worth $4,729,000 after acquiring an additional 4,296 shares during the last quarter. Choreo LLC grew its position in Snowflake by 18.6% during the 1st quarter. Choreo LLC now owns 8,267 shares of the company’s stock worth $1,336,000 after acquiring an additional 1,294 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Snowflake by 23.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock worth $37,484,000 after acquiring an additional 43,062 shares during the last quarter. Ridgewood Investments LLC bought a new position in Snowflake during the 1st quarter worth approximately $244,000. Finally, Cetera Investment Advisers grew its position in Snowflake by 201.5% during the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after acquiring an additional 42,563 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

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.