Christian Kleinerman Sells 10,000 Shares of Snowflake Inc. (NYSE:SNOW) Stock

by · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $216.00, for a total value of $2,160,000.00. Following the transaction, the executive vice president owned 537,336 shares of the company’s stock, valued at approximately $116,064,576. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Tuesday, July 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $218.89, for a total value of $2,188,900.00.
  • On Wednesday, June 25th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $225.00, for a total value of $1,125,000.00.
  • On Monday, June 23rd, Christian Kleinerman sold 2,610 shares of Snowflake stock. The stock was sold at an average price of $209.87, for a total value of $547,760.70.
  • On Tuesday, June 17th, Christian Kleinerman sold 2,975 shares of Snowflake stock. The stock was sold at an average price of $208.00, for a total value of $618,800.00.
  • On Tuesday, June 10th, Christian Kleinerman sold 548 shares of Snowflake stock. The stock was sold at an average price of $209.96, for a total value of $115,058.08.
  • On Monday, June 2nd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $205.67, for a total value of $2,056,700.00.
  • On Thursday, May 22nd, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $200.00, for a total value of $1,000,000.00.

Snowflake Trading Down 1.3%

NYSE:SNOW opened at $205.74 on Wednesday. The stock’s 50 day moving average price is $214.04 and its 200 day moving average price is $183.36. The company has a market capitalization of $68.69 billion, a PE ratio of -48.87 and a beta of 1.22. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27.

Snowflake (NYSE:SNOW – Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. On average, research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SNOW. Brighton Jones LLC grew its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Snowflake by 29.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,581 shares of the company’s stock valued at $1,016,000 after purchasing an additional 1,510 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Snowflake by 1,325.2% in the 4th quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock valued at $16,758,000 after purchasing an additional 100,912 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Snowflake by 132.1% in the 4th quarter. Alliancebernstein L.P. now owns 282,696 shares of the company’s stock valued at $43,651,000 after purchasing an additional 160,888 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Snowflake by 0.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 98,459 shares of the company’s stock valued at $15,203,000 after purchasing an additional 492 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on SNOW shares. BTIG Research restated a “buy” rating on shares of Snowflake in a report on Thursday, May 22nd. Evercore ISI restated a “buy” rating on shares of Snowflake in a report on Wednesday, June 4th. Citigroup restated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Scotiabank restated an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Stephens started coverage on Snowflake in a report on Friday, July 18th. They set an “overweight” rating and a $261.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.73.

Get Our Latest Stock Analysis on Snowflake

About Snowflake

(Get Free Report)

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.

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