Snowflake (NYSE:SNOW) EVP Christian Kleinerman Sells 10,000 Shares

Key Points

• Christian Kleinerman, EVP of Snowflake, sold 10,000 shares at an average price of $223.88, totaling approximately $2.24 million, resulting in a 1.84% decrease in his holdings.
• Snowflake stock increased by 4.3% to reach $240.51, with a market capitalization of $81.48 billion.
• The company reported earnings per share of $0.35 for Q3, surpassing expectations, while also experiencing a year-over-year revenue growth of 31.8%.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the sale, the executive vice president directly owned 532,450 shares of the company's stock, valued at approximately $119,204,906. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, September 23rd, Christian Kleinerman sold 2,611 shares of Snowflake stock. The shares were sold at an average price of $230.48, for a total transaction of $601,783.28.
• On Tuesday, September 16th, Christian Kleinerman sold 2,975 shares of Snowflake stock. The shares were sold at an average price of $221.24, for a total transaction of $658,189.00.
• On Tuesday, September 9th, Christian Kleinerman sold 548 shares of Snowflake stock. The stock was sold at an average price of $223.86, for a total transaction of $122,675.28.
• On Tuesday, September 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00.
• On Friday, August 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $216.00, for a total transaction of $2,160,000.00.

Snowflake Stock Up 4.3%

Snowflake stock traded up $9.96 during mid-day trading on Thursday, reaching $240.51. 6,615,417 shares of the company's stock were exchanged, compared to its average volume of 4,818,005. The company has a market cap of $81.48 billion, a P/E ratio of -57.95 and a beta of 1.21. Snowflake Inc. has a twelve month low of $108.71 and a twelve month high of $249.99. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $215.62 and a 200-day moving average of $195.06.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business earned $0.18 EPS. The firm's quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Trading of Snowflake

Several hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division lifted its stake in shares of Snowflake by 25.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,542 shares of the company's stock worth $1,024,000 after acquiring an additional 912 shares during the period. GAMMA Investing LLC lifted its stake in shares of Snowflake by 8.6% in the 3rd quarter. GAMMA Investing LLC now owns 993 shares of the company's stock worth $224,000 after acquiring an additional 79 shares during the period. Vigilare Wealth Management lifted its stake in shares of Snowflake by 25.0% in the 3rd quarter. Vigilare Wealth Management now owns 1,904 shares of the company's stock worth $429,000 after acquiring an additional 381 shares during the period. Hobart Private Capital LLC lifted its stake in shares of Snowflake by 52.6% in the third quarter. Hobart Private Capital LLC now owns 4,827 shares of the company's stock valued at $1,089,000 after purchasing an additional 1,663 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in shares of Snowflake by 99.9% in the second quarter. Corient Private Wealth LLC now owns 25,176 shares of the company's stock valued at $5,634,000 after purchasing an additional 12,580 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SNOW. Macquarie increased their price objective on shares of Snowflake from $210.00 to $235.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Loop Capital increased their target price on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group increased their target price on shares of Snowflake from $230.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Robert W. Baird increased their target price on shares of Snowflake from $215.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Finally, Wells Fargo & Company began coverage on shares of Snowflake in a research report on Tuesday. They issued an "overweight" rating and a $275.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $255.53.

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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