Snowflake Inc. (NYSE:SNOW) EVP Sells $2,056,700.00 in Stock

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the transaction, the executive vice president now directly owns 570,632 shares of the company's stock, valued at approximately $117,361,883.44. This trade represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 22nd, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00.
• On Thursday, May 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $168.00, for a total value 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 value 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 stock was sold at an average price of $147.24, for a total transaction of $100,859.40.

Snowflake Stock Up 0.3%

SNOW traded up $0.68 during trading on Friday, hitting $210.78. 3,390,875 shares of the company's stock were exchanged, compared to its average volume of 6,354,613. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $214.83. The stock has a market cap of $70.37 billion, a P/E ratio of -62.18 and a beta of 1.21. The business's 50 day moving average is $168.14 and its two-hundred day moving average is $168.59. 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 (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on SNOW shares. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Cantor Fitzgerald raised their price objective on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. HSBC downgraded Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $225.00 target price (up previously from $200.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average target price of $221.97.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Snowflake by 14.4% in the fourth quarter. Blue Trust Inc. now owns 1,609 shares of the company's stock worth $248,000 after purchasing an additional 202 shares during the period. Caprock Group LLC increased its position in shares of Snowflake by 5.5% in the fourth quarter. Caprock Group LLC now owns 4,036 shares of the company's stock worth $623,000 after purchasing an additional 211 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Snowflake by 2.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,516 shares of the company's stock worth $1,469,000 after acquiring an additional 208 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new stake in Snowflake during the fourth quarter worth about $402,000. 65.10% of the stock is owned by hedge funds and other 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.