Snowflake Inc. (NYSE:SNOW) EVP Sells $1,811,550.00 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, October 10th, Christian Kleinerman sold 30,000 shares of Snowflake stock. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00.
• On Monday, September 23rd, Christian Kleinerman sold 861 shares of Snowflake stock. The stock was sold at an average price of $111.41, for a total transaction of $95,924.01.
• On Tuesday, September 17th, Christian Kleinerman sold 3,029 shares of Snowflake stock. The shares were 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 shares were sold at an average price of $109.96, for a total value of $61,357.68.

Snowflake Stock Up 1.7 %

Snowflake stock traded up $2.07 during midday trading on Thursday, hitting $123.49. The company’s stock had a trading volume of 4,592,046 shares, compared to its average volume of 6,486,957. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market capitalization of $41.39 billion, a PE ratio of -40.61 and a beta of 0.83. The stock’s 50-day moving average price is $114.83 and its 200-day moving average price is $129.88.

Snowflake (NYSE:SNOW) last released 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. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.52) earnings per share. As a group, equities analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Citigroup reduced their price target on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Evercore ISI cut their price objective on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. JMP Securities lowered their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group cut their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $174.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC lifted its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter worth $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake during the third quarter valued at $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake during the third quarter valued at $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in Snowflake during the second quarter valued at $39,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.