Snowflake (NYSE:SNOW) EVP Christian Kleinerman Sells 2,975 Shares

Key Points

• Christian Kleinerman, EVP of Snowflake, sold 2,975 shares of stock for a total of $658,189.00, reducing his ownership by 0.54% to 547,724 shares.
• Snowflake reported quarterly earnings of $0.35 EPS, exceeding analysts' expectations of $0.27, and achieved a revenue of $1.14 billion, up 31.8% year-over-year.
• Multiple analysts have raised their price targets for Snowflake, with new objectives ranging from $255.53 to $280.00 and a majority rating the stock as a "Buy" or "Outperform."

Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 2,975 shares of Snowflake stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $658,189.00. Following the completion of the sale, the executive vice president owned 547,724 shares of the company's stock, valued at $121,178,457.76. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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.
• 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.

Snowflake Stock Performance

SNOW stock traded up $8.29 during trading on Friday, reaching $230.40. The company had a trading volume of 7,769,335 shares, compared to its average volume of 7,794,196. 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 Inc. has a twelve month low of $108.71 and a twelve month high of $249.99. The firm has a 50-day simple moving average of $213.16 and a 200-day simple moving average of $190.64. The company has a market cap of $78.06 billion, a price-to-earnings ratio of -55.52 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.09 billion. During the same period in the previous year, the business posted $0.18 EPS. The business's quarterly revenue was up 31.8% compared to the same quarter last year. As a group, sell-side analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Institutional Trading of Snowflake

A number of large investors have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new stake in Snowflake during the second quarter worth approximately $3,900,134,000. Norges Bank acquired a new stake in Snowflake in the second quarter valued at $944,895,000. Nuveen LLC acquired a new stake in Snowflake in the first quarter valued at $555,847,000. Winslow Capital Management LLC acquired a new stake in Snowflake in the second quarter valued at $725,667,000. Finally, AQR Capital Management LLC lifted its holdings in Snowflake by 346.2% in the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company's stock valued at $456,430,000 after acquiring an additional 2,460,769 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SNOW. Rosenblatt Securities lifted their price objective on shares of Snowflake from $210.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. JMP Securities reiterated a "market outperform" rating and issued a $260.00 target price on shares of Snowflake in a research note on Tuesday, August 26th. Sanford C. Bernstein boosted their target price on shares of Snowflake from $191.00 to $221.00 and gave the company a "market perform" rating in a research note on Thursday, August 28th. Oppenheimer boosted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Finally, Morgan Stanley boosted their target price on shares of Snowflake from $262.00 to $272.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus target price 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.