Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells 861 Shares of Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 861 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $95,924.01. Following the completion of the transaction, the executive vice president now directly owns 751,755 shares in the company, valued at $83,753,024.55. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, September 17th, Christian Kleinerman sold 3,029 shares of Snowflake stock. The stock was sold at an average price of $114.39, for a total transaction of $346,487.31.
• 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 transaction 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 shares were sold at an average price of $142.98, for a total transaction of $2,144,700.00.

Snowflake Stock Performance

Shares of NYSE:SNOW traded down $0.58 during midday trading on Tuesday, hitting $112.68. 9,258,244 shares of the stock were exchanged, compared to its average volume of 6,672,816. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of -39.90 and a beta of 0.83. The business’s 50-day moving average price is $120.46 and its 200 day moving average price is $138.78. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the prior year, the business posted ($0.52) earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts expect that Snowflake Inc. will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNOW. TD Cowen dropped their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Jefferies Financial Group dropped their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Evercore ISI dropped their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Wedbush dropped their target price on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, August 22nd. Finally, Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.17.

Institutional Trading of Snowflake

A number of hedge funds have recently modified their holdings of SNOW. Swedbank AB purchased a new stake in Snowflake in the first quarter worth $258,957,000. Vanguard Group Inc. lifted its position in Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after acquiring an additional 1,559,830 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Snowflake during the first quarter worth $171,608,000. Cibc World Markets Corp purchased a new stake in shares of Snowflake in the fourth quarter valued at $147,120,000. Finally, AQR Capital Management LLC lifted its stake in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares in the last quarter. 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.