Insider Selling: Snowflake Inc. (NYSE:SNOW) EVP Sells 15,000 Shares of Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 23rd, Christian Kleinerman sold 861 shares of Snowflake stock. The shares were sold at an average price of $165.31, for a total value of $142,331.91.
• On Tuesday, December 17th, Christian Kleinerman sold 3,029 shares of Snowflake stock. The stock was sold at an average price of $171.00, for a total transaction of $517,959.00.
• On Tuesday, December 10th, Christian Kleinerman sold 558 shares of Snowflake stock. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00.
• On Wednesday, December 4th, Christian Kleinerman sold 15,000 shares of Snowflake stock. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00.

Snowflake Price Performance

SNOW stock opened at $186.16 on Friday. The firm has a 50 day simple moving average of $170.36 and a two-hundred day simple moving average of $138.86. The stock has a market cap of $61.45 billion, a PE ratio of -54.91 and a beta of 1.07. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in SNOW. Black Swift Group LLC bought a new stake in Snowflake during the fourth quarter worth about $811,000. Raymond James Financial Inc. bought a new position in shares of Snowflake during the 4th quarter valued at about $124,433,000. Dana Investment Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter valued at about $5,296,000. Proficio Capital Partners LLC bought a new stake in Snowflake in the 4th quarter worth approximately $8,321,000. Finally, M&T Bank Corp boosted its stake in Snowflake by 17.0% in the fourth quarter. M&T Bank Corp now owns 15,932 shares of the company’s stock worth $2,460,000 after buying an additional 2,317 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNOW. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Piper Sandler upped their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Friday, January 10th. Loop Capital raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Evercore ISI lifted their price objective on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.06.

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.