Snowflake (NYSE:SNOW) EVP Sells $1,250,000.00 in Stock

Key Points

• Snowflake's EVP, Christian Kleinerman, sold 5,000 shares for a total of $1,250,000, reducing his ownership by 10.29% to 43,568 shares.
• Snowflake reported a 31.8% year-over-year revenue increase, totaling $1.14 billion, with earnings per share beating analyst expectations.
• Institutional investors currently own 65.10% of Snowflake stock, with significant recent increases in holdings by several firms.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 5,000 shares of Snowflake stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $250.00, for a total value of $1,250,000.00. Following the transaction, the executive vice president directly owned 43,568 shares of the company's stock, valued at approximately $10,892,000. The trade was a 10.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, October 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $223.88, for a total value of $2,238,800.00.
• 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 value 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 value of $658,189.00.
• On Tuesday, September 9th, Christian Kleinerman sold 548 shares of Snowflake stock. The shares were sold at an average price of $223.86, for a total value of $122,675.28.
• On Tuesday, September 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $233.50, for a total value of $2,335,000.00.
• On Friday, August 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $216.00, for a total value of $2,160,000.00.

Snowflake Price Performance

Shares of NYSE SNOW traded down $8.15 during midday trading on Friday, reaching $242.52. 5,047,942 shares of the company traded hands, compared to its average volume of 4,711,730. The firm has a market cap of $82.17 billion, a PE ratio of -58.44 and a beta of 1.21. The stock's 50-day simple moving average is $218.64 and its 200-day simple moving average is $198.54. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same period last year, the business earned $0.18 earnings per share. The business's revenue was up 31.8% on a year-over-year basis. As a group, equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently modified their holdings of SNOW. Brighton Jones LLC grew its position in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after buying an additional 29,320 shares during the period. Farther Finance Advisors LLC grew its position in shares of Snowflake by 29.2% during the 1st quarter. Farther Finance Advisors LLC now owns 4,801 shares of the company's stock worth $718,000 after buying an additional 1,085 shares during the period. GAMMA Investing LLC grew its position in shares of Snowflake by 102.8% during the 1st quarter. GAMMA Investing LLC now owns 793 shares of the company's stock worth $116,000 after buying an additional 402 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Snowflake by 277.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 551,894 shares of the company's stock valued at $80,665,000 after purchasing an additional 405,588 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Snowflake during the 1st quarter valued at about $42,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Citigroup restated an "outperform" rating on shares of Snowflake in a research note on Thursday, August 28th. Bank of America upgraded Snowflake from a "neutral" rating to a "buy" rating and raised their target price for the company from $220.00 to $240.00 in a research note on Wednesday, August 20th. Macquarie lifted their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a research report on Thursday, August 28th. Finally, Scotiabank lifted their price objective on Snowflake from $230.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.18.

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.

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