Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells 5,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 5,000 shares of Snowflake stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president now owns 53,568 shares in the company, valued at $10,713,600. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $2,056,700.00.
• 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 stock was 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.
• On Tuesday, March 18th, Christian Kleinerman sold 3,765 shares of Snowflake stock. The stock was sold at an average price of $155.69, for a total value of $586,172.85.
• On Tuesday, March 11th, Christian Kleinerman sold 685 shares of Snowflake stock. The shares were sold at an average price of $147.24, for a total value of $100,859.40.

Snowflake Trading Up 0.3%

Shares of SNOW traded up $0.68 during mid-day trading on Friday, hitting $210.78. The company had a trading volume of 3,390,875 shares, compared to its average volume of 6,354,613. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $214.83. The business's 50-day simple moving average is $168.14 and its 200-day simple moving average is $168.59. The stock has a market cap of $70.37 billion, a PE ratio of -62.18 and a beta of 1.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. Hsbc Global Res cut shares of Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Royal Bank of Canada lifted their price objective on Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday. Canaccord Genuity Group increased their target price on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.97.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP increased its stake in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after acquiring an additional 59 shares during the last quarter. Ignite Planners LLC increased its position in Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after purchasing an additional 64 shares in the last quarter. Gabelli Funds LLC increased its position in Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after purchasing an additional 65 shares in the last quarter. Archford Capital Strategies LLC raised its holdings in Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after buying an additional 68 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in Snowflake by 8.9% during the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds 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.