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

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 transaction 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 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 shares were sold at an average price of $109.96, for a total transaction of $61,357.68.

Snowflake Price Performance

NYSE SNOW opened at $120.89 on Friday. The stock’s 50 day simple moving average is $115.15 and its 200-day simple moving average is $129.65. The company has a market cap of $40.52 billion, a PE ratio of -39.50 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter last year, the firm posted ($0.52) EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after purchasing an additional 297,428 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Legal & General Group Plc boosted its stake in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the last quarter. Swedbank AB acquired a new stake in shares of Snowflake in the 1st quarter worth $258,957,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Snowflake by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after acquiring an additional 8,743 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Bank of America lowered their price target on Snowflake from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Citigroup reduced their price target on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company dropped their price objective on shares of Snowflake from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Finally, HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and raised their target price for the stock from $119.00 to $121.00 in a 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.56.

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.