Snowflake (NYSE:SNOW) EVP Sells $601,783.28 in Stock

Key Points

• Christian Kleinerman, Executive Vice President of Snowflake, sold shares totaling $601,783.28, decreasing his ownership by 0.48%. He now holds 542,450 shares valued at $125 million.
• Snowflake reported $1.14 billion in revenue for the last quarter, exceeding estimates and representing a 31.8% year-over-year increase.
• Snowflake’s stock has a consensus rating of "Moderate Buy" with an average price target of $255.53, as per recent analyst reports.

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 2,611 shares of the firm's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $230.48, for a total transaction of $601,783.28. Following the transaction, the executive vice president directly owned 542,450 shares in the company, valued at $125,023,876. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, September 16th, Christian Kleinerman sold 2,975 shares of Snowflake stock. The stock was 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.
• 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.

Snowflake Stock Performance

Shares of Snowflake stock traded down $0.84 on Wednesday, reaching $222.70. 3,257,631 shares of the stock were exchanged, compared to its average volume of 8,013,539. Snowflake Inc. has a 1-year low of $108.71 and a 1-year high of $249.99. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average price of $213.93 and a two-hundred day moving average price of $191.91. The firm has a market capitalization of $75.45 billion, a PE ratio of -53.66 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $0.18 earnings per share. The business's revenue was up 31.8% compared to the same quarter last year. As a group, research analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently modified their holdings of the company. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake during the second quarter valued at approximately $25,000. Avion Wealth lifted its stake in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company's stock valued at $25,000 after buying an additional 49 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake during the first quarter valued at approximately $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the period. Finally, Rossby Financial LCC increased its position in Snowflake by 4,233.3% during the second quarter. Rossby Financial LCC now owns 130 shares of the company's stock worth $29,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SNOW shares. KeyCorp boosted their price target on shares of Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Stephens initiated coverage on shares of Snowflake in a report on Friday, July 18th. They set an "overweight" rating and a $261.00 price objective on the stock. Macquarie boosted their price objective on shares of Snowflake from $210.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, August 28th. Guggenheim reissued a "neutral" rating on shares of Snowflake in a report on Thursday, August 28th. Finally, Bank of America raised shares of Snowflake from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $220.00 to $240.00 in a report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, 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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