Insider Selling: Snowflake (NYSE:SNOW) EVP Sells 2,986 Shares of Stock

Key Points

• Snowflake EVP Christian Kleinerman sold 2,986 shares on June 16 at an average price of $240, totaling $716,640. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity award vesting.
• Kleinerman has been actively selling shares recently, including additional sales on June 9, June 1, and May 28. After the latest transaction, he still directly owns 405,652 shares valued at about $97.4 million.
• Snowflake’s business and analyst outlook remain mixed but constructive: the company recently beat quarterly EPS and revenue estimates, while analysts maintain a “Moderate Buy” consensus with a $291.77 target. At the same time, competition from Databricks and insider selling continue to weigh on sentiment.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 2,986 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total transaction of $716,640.00. Following the completion of the transaction, the executive vice president directly owned 405,652 shares of the company's stock, valued at approximately $97,356,480. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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.
• On Monday, June 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $272.00, for a total transaction of $2,720,000.00.
• On Thursday, May 28th, Christian Kleinerman sold 100 shares of Snowflake stock. The stock was sold at an average price of $236.77, for a total transaction of $23,677.00.
• On Thursday, May 28th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $236.77, for a total transaction of $1,183,850.00.
• On Monday, March 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The stock was sold at an average price of $170.01, for a total transaction of $445,596.21.

Snowflake Price Performance

NYSE SNOW traded down $4.08 on Wednesday, hitting $234.24. The stock had a trading volume of 6,148,735 shares, compared to its average volume of 10,591,309. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $81.19 billion, a price-to-earnings ratio of -66.55 and a beta of 1.35. The firm has a 50-day moving average of $178.86 and a 200-day moving average of $189.60.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the company posted $0.24 EPS. The business's revenue for the quarter was up 33.5% compared to the same quarter last year. Equities analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citizens Jmp reissued a "market outperform" rating and set a $325.00 price objective on shares of Snowflake in a report on Tuesday, May 19th. Scotiabank upped their price target on shares of Snowflake from $285.00 to $320.00 and gave the stock a "sector outperform" rating in a research report on Monday, June 8th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Wednesday, February 18th. Citigroup upped their price target on shares of Snowflake from $260.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Finally, Monness Crespi & Hardt upped their price target on shares of Snowflake from $282.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $291.77.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Snowflake in the 4th quarter worth about $974,091,000. Jennison Associates LLC boosted its holdings in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after buying an additional 2,519,413 shares in the last quarter. Coatue Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at about $441,277,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Snowflake in the 4th quarter valued at about $345,619,000. Finally, American Century Companies Inc. boosted its stake in Snowflake by 233.3% in the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company's stock worth $474,766,000 after purchasing an additional 1,473,354 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

About Snowflake

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.

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