Insider Selling: Snowflake (NYSE:SNOW) EVP Sells $3,800,000.00 in Stock

Key Points

• Snowflake EVP Christian Kleinerman sold 10,000 shares at $380 each for $3.8 million under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 35% to 18,568 shares.
• Snowflake reported stronger-than-expected quarterly results, with adjusted EPS of $0.62 versus the $0.45 consensus and revenue of $1.55 billion, up 35.1% year over year. Management also raised fiscal 2027 product-revenue guidance, citing accelerating AI demand.
• Analyst sentiment remains bullish: Snowflake has a “Moderate Buy” consensus rating, with an average price target of $410.19, while several firms recently raised their targets to as high as $450.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the sale, the executive vice president directly owned 18,568 shares in the company, valued at $7,055,840. This represents a 35.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 1st, Christian Kleinerman sold 15,000 shares of Snowflake stock. The shares were sold at an average price of $325.57, for a total transaction of $4,883,550.00.
• On Friday, August 7th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $325.00, for a total transaction of $1,625,000.00.
• On Friday, August 7th, Christian Kleinerman sold 25,000 shares of Snowflake stock. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00.
• On Monday, August 3rd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $297.00, for a total value of $2,970,000.00.
• On Friday, July 31st, Christian Kleinerman sold 9,986 shares of Snowflake stock. The shares were sold at an average price of $300.00, for a total value of $2,995,800.00.
• On Friday, July 31st, Christian Kleinerman sold 20,000 shares of Snowflake stock. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00.
• On Wednesday, July 1st, Christian Kleinerman sold 2,500 shares of Snowflake stock. The stock was sold at an average price of $258.56, for a total value of $646,400.00.
• On Tuesday, June 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The stock was sold at an average price of $228.45, for a total value of $598,767.45.
• On Tuesday, June 16th, Christian Kleinerman sold 2,986 shares of Snowflake stock. The shares were sold at an average price of $240.00, for a total value of $716,640.00.
• On Tuesday, June 9th, Christian Kleinerman sold 2,729 shares of Snowflake stock. The stock was sold at an average price of $239.00, for a total transaction of $652,231.00.

Snowflake Price Performance

Shares of SNOW stock traded up $50.94 during trading hours on Thursday, reaching $356.78. 21,795,365 shares of the company were exchanged, compared to its average volume of 4,323,452. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The stock's fifty day moving average is $293.26 and its two-hundred day moving average is $218.27. The company has a market cap of $123.66 billion, a price-to-earnings ratio of -112.19 and a beta of 1.33.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. Snowflake's revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 EPS. Sell-side analysts forecast that Snowflake Inc. will post -1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of Snowflake by 25,944.6% in the 2nd quarter. California State Teachers Retirement System now owns 127,340,602 shares of the company's stock valued at $32,408,183,000 after buying an additional 126,851,670 shares in the last quarter. Nuveen LLC lifted its holdings in Snowflake by 2.3% during the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company's stock worth $1,157,749,000 after acquiring an additional 116,521 shares in the last quarter. Geode Capital Management LLC grew its stake in Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company's stock valued at $1,052,195,000 after acquiring an additional 249,668 shares during the period. Norges Bank acquired a new position in Snowflake in the fourth quarter valued at about $974,091,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock worth $452,014,000 after acquiring an additional 544,960 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Monness Crespi & Hardt raised their target price on shares of Snowflake from $380.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday. KeyCorp raised their price objective on shares of Snowflake from $285.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Rosenblatt Securities upped their target price on shares of Snowflake from $285.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on Snowflake from $285.00 to $426.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, TD Cowen lifted their price objective on Snowflake from $370.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average target price of $410.19.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong earnings beat and accelerating growth: Snowflake reported adjusted earnings of $0.62 per share, ahead of the $0.45 consensus estimate, while revenue rose 35.1% year over year to $1.55 billion, topping the $1.48 billion forecast. Product revenue increased 37% to approximately $1.49 billion. Snowflake spikes on healthy results and AI coding momentum
• Positive Sentiment: AI demand is becoming a growth catalyst: Management said AI contributed about half of the company’s outperformance, with adoption of its CoCo AI coding agent adding more than 2,000 accounts. Broad-based demand across customers, workloads and geographies further strengthened the growth outlook. Snowflake Stock Soars as Surging AI Demand Boosts Earnings
• Positive Sentiment: Raised guidance: Snowflake lifted fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion, signaling that cloud consumption and AI-related demand are exceeding prior expectations. The company also remains on track to reach break-even next year, according to CEO Sridhar Ramaswamy.
• Positive Sentiment: Analysts turned more bullish: JPMorgan, UBS, Citi, TD Cowen, Bank of America and several other firms raised price targets, with targets reaching as high as $500 and ratings including Buy, Overweight and Market Outperform. Wall Street analyst views

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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