Snowflake (NYSE:SNOW) EVP Christian Kleinerman Sells 2,500 Shares

Key Points

• Snowflake EVP Christian Kleinerman sold 2,500 shares on July 1 at an average price of $258.56, worth about $646,400, reducing his ownership by 0.62%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Kleinerman has been actively trimming his stake, with multiple sales in late May and June, including a 10,000-share sale on June 1. These transactions suggest a steady pattern of insider selling rather than a one-off move.
• Snowflake’s stock opened at $261.88, near its 12-month high of $284.99, after posting stronger-than-expected quarterly results. The company beat EPS and revenue estimates, while analysts currently rate the stock a Moderate Buy with a consensus target price of $293.53.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $258.56, for a total value of $646,400.00. Following the completion of the sale, the executive vice president owned 397,879 shares in the company, valued at $102,875,594.24. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The stock was sold at an average price of $228.45, for a total transaction of $598,767.45.
• On Tuesday, June 16th, Christian Kleinerman sold 2,986 shares of Snowflake stock. The stock was sold at an average price of $240.00, for a total transaction of $716,640.00.
• On Tuesday, June 9th, Christian Kleinerman sold 2,729 shares of Snowflake stock. The shares were 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.

Snowflake Stock Performance

Shares of SNOW opened at $261.88 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm's fifty day simple moving average is $205.08 and its two-hundred day simple moving average is $190.58. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The stock has a market capitalization of $90.77 billion, a P/E ratio of -74.40 and a beta of 1.35.

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

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Snowflake from $295.00 to $320.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Truist Financial boosted their target price on shares of Snowflake from $275.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 5th. Morgan Stanley increased their target price on shares of Snowflake from $245.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Evercore set a $200.00 price target on shares of Snowflake in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus target price of $293.53.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Assetmark Inc. raised its position in Snowflake by 99.1% in the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company's stock worth $43,577,000 after acquiring an additional 98,870 shares during the period. Jennison Associates LLC grew its position in shares of Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. Swedbank AB increased its stake in shares of Snowflake by 6.0% during the 4th quarter. Swedbank AB now owns 1,330,415 shares of the company's stock worth $291,840,000 after purchasing an additional 75,419 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Snowflake by 8.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 144,234 shares of the company's stock worth $31,639,000 after purchasing an additional 10,972 shares during the last quarter. Finally, Cache Advisors LLC raised its holdings in shares of Snowflake by 175.0% in the 4th quarter. Cache Advisors LLC now owns 11,132 shares of the company's stock worth $2,442,000 after purchasing an additional 7,084 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.