Snowflake (NYSE:SNOW) EVP Sells $2,335,000.00 in Stock

Key Points

• Snowflake EVP Christian Kleinerman sold 10,000 shares worth $2.335 million, reducing his ownership by 1.86% to 527,336 shares valued at approximately $123.1 million.
• Snowflake's share price has decreased by 3.2% to $222.04, with significant trading volume of over 13 million shares.
• The company recently reported $1.14 billion in quarterly revenue, exceeding analysts' expectations, with earnings per share of $0.35.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the transaction, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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.
• On Tuesday, July 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $209.96, for a total transaction of $115,058.08.

Snowflake Stock Down 3.2%

Shares of NYSE SNOW traded down $7.30 during mid-day trading on Thursday, reaching $222.04. 13,269,848 shares of the company's stock traded hands, compared to its average volume of 7,198,921. The stock has a market cap of $74.13 billion, a P/E ratio of -53.50 and a beta of 1.22. The business has a 50-day simple moving average of $212.27 and a 200 day simple moving average of $187.06. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $249.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

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. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 41.42%. The business's revenue was up 31.8% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, analysts expect that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on SNOW. UBS Group raised their price target on shares of Snowflake from $250.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. CICC Research began coverage on shares of Snowflake in a research report on Friday, June 20th. They set an "outperform" rating and a $225.00 price target on the stock. Cowen reissued a "buy" rating on shares of Snowflake in a research report on Thursday, August 28th. Stifel Nicolaus raised their price target on shares of Snowflake from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Finally, Barclays raised their price target on shares of Snowflake from $219.00 to $255.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.53.

Hedge Funds Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. Brighton Jones LLC increased its stake in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Comerica Bank grew its stake in Snowflake by 3.9% during the fourth quarter. Comerica Bank now owns 20,763 shares of the company's stock valued at $3,206,000 after acquiring an additional 781 shares in the last quarter. Triumph Capital Management grew its stake in Snowflake by 30.3% during the fourth quarter. Triumph Capital Management now owns 7,706 shares of the company's stock valued at $1,190,000 after acquiring an additional 1,791 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $448,000. Finally, Benjamin Edwards Inc. grew its stake in Snowflake by 18.3% during the fourth quarter. Benjamin Edwards Inc. now owns 2,228 shares of the company's stock valued at $344,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

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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