Christian Kleinerman Sells 3,029 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 3,029 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $346,487.31. Following the transaction, the executive vice president now owns 753,464 shares in the company, valued at $86,188,746.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, September 10th, Christian Kleinerman sold 558 shares of Snowflake stock. The stock was sold at an average price of $109.96, for a total value of $61,357.68.
• On Wednesday, August 7th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00.
• On Friday, July 5th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The stock was sold at an average price of $142.98, for a total transaction of $2,144,700.00.
• On Thursday, June 20th, Christian Kleinerman sold 1,535 shares of Snowflake stock. The stock was sold at an average price of $125.93, for a total transaction of $193,302.55.

Snowflake Stock Performance

NYSE:SNOW opened at $114.00 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a 50 day moving average price of $121.87 and a 200 day moving average price of $140.21. The stock has a market capitalization of $38.21 billion, a P/E ratio of -40.71 and a beta of 0.83.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the business posted ($0.52) earnings per share. Research analysts forecast that Snowflake Inc. will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. grew its holdings in shares of Snowflake by 27.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock valued at $451,000 after purchasing an additional 722 shares in the last quarter. Heritage Wealth Management Inc. purchased a new position in Snowflake in the 2nd quarter valued at approximately $530,000. Sanctuary Advisors LLC acquired a new position in shares of Snowflake in the second quarter worth $3,352,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Snowflake during the second quarter worth $142,000. Finally, Cetera Investment Advisers boosted its holdings in Snowflake by 8.0% in the second quarter. Cetera Investment Advisers now owns 68,800 shares of the company’s stock valued at $9,294,000 after purchasing an additional 5,112 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citigroup cut their target price on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Oppenheimer reissued an “outperform” rating and issued a $220.00 price objective on shares of Snowflake in a report on Thursday, May 23rd. UBS Group reduced their price objective on Snowflake from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Stifel Nicolaus dropped their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, Mizuho reduced their price target on shares of Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $176.03.

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.