Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells 10,000 Shares of 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 business's stock in a transaction 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 completion of the transaction, the executive vice president owned 537,336 shares of the company's stock, valued at $116,064,576. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 transaction 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 transaction 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 transaction of $115,058.08.
• On Monday, June 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $205.67, for a total transaction of $2,056,700.00.
• 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.

Snowflake Price Performance

Shares of Snowflake stock traded up $3.37 during trading on Monday, hitting $208.39. 3,418,909 shares of the company's stock traded hands, compared to its average volume of 3,517,346. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The firm's fifty day moving average price is $213.88 and its 200 day moving average price is $182.94. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $229.27. The company has a market cap of $69.57 billion, a PE ratio of -49.50 and a beta of 1.22.

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, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $0.14 EPS. The firm's quarterly revenue was up 25.8% on a year-over-year basis. Analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and increased their price objective for the company from $210.00 to $265.00 in a report on Wednesday, June 4th. Wells Fargo & Company restated an "overweight" rating and set a $250.00 target price (up from $225.00) on shares of Snowflake in a report on Friday, June 13th. Raymond James Financial restated an "outperform" rating and set a $212.00 target price (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. JMP Securities raised their target price on shares of Snowflake from $245.00 to $260.00 and gave the stock a "market outperform" rating in a report on Friday, July 18th. Finally, Cowen restated a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $226.73.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Trust Co. of Toledo NA OH bought a new position in shares of Snowflake in the second quarter worth about $25,000. Avion Wealth raised its stake in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company's stock worth $25,000 after acquiring an additional 49 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter worth about $26,000. CVA Family Office LLC raised its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. Finally, Rossby Financial LCC raised its stake in shares of Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company's stock worth $29,000 after buying an additional 127 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

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.

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