Snowflake (NYSE:SNOW) EVP Sells $646,400.00 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,500 shares of the business’s stock in a transaction 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 approximately $102,875,594.24. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $228.45, for a total value 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 value of $716,640.00.
• On Tuesday, June 9th, Christian Kleinerman sold 2,729 shares of Snowflake stock. The stock was sold at an average price of $239.00, for a total value of $652,231.00.
• On Monday, June 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $272.00, for a total value of $2,720,000.00.
• On Thursday, May 28th, Christian Kleinerman sold 100 shares of Snowflake stock. The shares were 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

NYSE SNOW opened at $261.88 on Tuesday. The company’s 50 day moving average is $205.08 and its 200-day moving average is $190.58. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market cap of $90.77 billion, a P/E ratio of -74.40 and a beta of 1.35.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Sell-side analysts predict that Snowflake Inc. will post -1.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. Hobart Private Capital LLC lifted its position in Snowflake by 13.4% during the second quarter. Hobart Private Capital LLC now owns 10,803 shares of the company’s stock valued at $2,749,000 after purchasing an additional 1,276 shares during the last quarter. Stableford Capital II LLC increased its holdings in shares of Snowflake by 6.9% in the 2nd quarter. Stableford Capital II LLC now owns 4,068 shares of the company’s stock worth $1,035,000 after buying an additional 262 shares during the last quarter. RDA Financial Network bought a new position in shares of Snowflake in the 2nd quarter worth $255,000. CX Institutional raised its position in shares of Snowflake by 47.8% during the 2nd quarter. CX Institutional now owns 1,076 shares of the company’s stock valued at $274,000 after buying an additional 348 shares in the last quarter. Finally, Basecamp Wealth Advisors LLC raised its position in shares of Snowflake by 140.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company’s stock valued at $30,000 after buying an additional 118 shares in 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 equities analysts have recently commented on the company. BTIG Research raised their price target on Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Evercore set a $200.00 price objective on Snowflake in a report on Tuesday, April 14th. Wells Fargo & Company raised their target price on Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Scotiabank lifted their target price on Snowflake from $285.00 to $320.00 and gave the company a “sector outperform” rating in a report on Monday, June 8th. Finally, Cantor Fitzgerald upped their price target on Snowflake from $225.00 to $282.00 and gave the company an “overweight” rating in a research 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.53.

About Snowflake

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.