Snowflake Inc. (NYSE:SNOW) EVP Sells $2,160,000.00 in Stock

Key Points

• Christian Kleinerman, EVP of Snowflake Inc., sold 10,000 shares on August 1st at an average price of $216.00, totaling $2,160,000, reducing his ownership by 1.83%.
• Snowflake's stock price reached $208.39 after an increase during trading on Monday, with a market cap of $69.57 billion and a twelve-month price range of $107.13 to $229.27.
• Recent analyst reports have set a consensus price target of $226.73 for Snowflake, with the majority rating it as a "Moderate Buy."

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $216.00, for a total value of $2,160,000.00. Following the transaction, the executive vice president owned 537,336 shares of the company's stock, valued at approximately $116,064,576. This represents a 1.83% decrease in their position. The sale was disclosed in a 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, July 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $218.89, for a total value 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 value 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 shares were sold at an average price of $208.00, for a total value of $618,800.00.
• On Tuesday, June 10th, Christian Kleinerman sold 548 shares of Snowflake stock. The shares were sold at an average price of $209.96, for a total value of $115,058.08.
• 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 22nd, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $200.00, for a total value of $1,000,000.00.

Snowflake Stock Down 5.4%

Shares of SNOW traded down $11.13 during trading hours on Friday, hitting $195.27. The company had a trading volume of 3,946,940 shares, compared to its average volume of 5,062,165. The company has a market capitalization of $65.19 billion, a PE ratio of -46.30 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a one year low of $107.13 and a one year high of $229.27. The company's fifty day moving average price is $214.25 and its two-hundred day moving average price is $183.79.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.14 EPS. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SNOW shares. JMP Securities raised their price objective on Snowflake from $245.00 to $260.00 and gave the stock a "market outperform" rating in a research note on Friday, July 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 price objective (up previously from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Mizuho raised their price objective on Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $226.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Kingstone Capital Partners Texas LLC purchased a new stake in Snowflake during the 2nd quarter valued at about $3,900,134,000. Nuveen LLC acquired a new position in Snowflake in the 1st quarter worth about $555,847,000. FMR LLC raised its holdings in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the period. AQR Capital Management LLC raised its holdings 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 during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after purchasing an additional 2,200,406 shares during the period. 65.10% of the stock is currently 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.