Christian Kleinerman Sells 548 Shares of Snowflake (NYSE:SNOW) Stock

Key Points

• Christian Kleinerman, EVP of Snowflake Inc., recently sold 548 shares of the company at an average price of $223.86, resulting in a transaction value of $122,675.28.
• Snowflake's stock performance shows a current trading price of $226.03 and a significant 12-month revenue increase of 31.8% compared to the previous year.
• Analysts have upgraded their price targets for Snowflake, with Piper Sandler setting a new target of $285.00, indicating strong market confidence in the company's growth potential.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 548 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $223.86, for a total value of $122,675.28. Following the transaction, the executive vice president owned 553,733 shares in the company, valued at $123,958,669.38. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, September 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00.
• On Friday, August 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00.
• On Tuesday, July 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00.
• On Wednesday, June 25th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $225.00, for a total transaction of $1,125,000.00.
• On Monday, June 23rd, Christian Kleinerman sold 2,610 shares of Snowflake stock. The shares were sold at an average price of $209.87, for a total value of $547,760.70.
• On Tuesday, June 17th, Christian Kleinerman sold 2,975 shares of Snowflake stock. The stock was sold at an average price of $208.00, for a total value of $618,800.00.

Snowflake Stock Performance

NYSE:SNOW traded up $0.47 during midday trading on Wednesday, reaching $226.03. 5,138,088 shares of the company traded hands, compared to its average volume of 7,461,124. The company has a fifty day moving average price of $212.58 and a 200 day moving average price of $187.91. The company has a current ratio of 1.48, a quick ratio of 1.58 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a twelve month low of $108.71 and a twelve month high of $249.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company's revenue for the quarter was up 31.8% compared to the same quarter last year. Sell-side analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SNOW shares. Piper Sandler increased their price objective on Snowflake from $215.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. BTIG Research increased their price target on Snowflake from $235.00 to $276.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Cowen reissued a "buy" rating on shares of Snowflake in a report on Thursday, August 28th. Hsbc Global Res lowered shares of Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Finally, Truist Financial boosted their price target on shares of Snowflake from $235.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $255.53.

Institutional Trading of Snowflake

A number of large investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake during the 2nd quarter valued at $3,900,134,000. Norges Bank acquired a new stake in shares of Snowflake during the second quarter worth $944,895,000. Nuveen LLC purchased a new stake in shares of Snowflake during the first quarter valued at $555,847,000. Winslow Capital Management LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at $725,667,000. Finally, AQR Capital Management LLC increased its stake in Snowflake by 346.2% in the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock worth $456,430,000 after purchasing an additional 2,460,769 shares in 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.

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