Snowflake Inc. (NYSE:SNOW) SVP Sells $249,000.00 in Stock

Snowflake Inc. (NYSE:SNOW) SVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $166.00, for a total value of $249,000.00. Following the completion of the transaction, the senior vice president now owns 661,789 shares of the company’s stock, valued at $109,856,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, August 14th, Christian Kleinerman sold 1,500 shares of Snowflake stock. The shares were sold at an average price of $151.54, for a total value of $227,310.00.
• On Friday, July 14th, Christian Kleinerman sold 1,500 shares of Snowflake stock. The shares were sold at an average price of $184.94, for a total value of $277,410.00.

Snowflake Stock Down 0.3 %

Snowflake stock opened at $162.41 on Monday. The company’s fifty day simple moving average is $163.92 and its 200-day simple moving average is $159.73. Snowflake Inc. has a 12 month low of $119.27 and a 12 month high of $193.94. The stock has a market cap of $53.55 billion, a P/E ratio of -61.06 and a beta of 0.78.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 23rd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. Snowflake had a negative net margin of 35.22% and a negative return on equity of 14.07%. The business had revenue of $674.00 million for the quarter, compared to analysts’ expectations of $662.22 million. During the same period in the previous year, the company posted ($0.67) EPS. Snowflake’s revenue was up 35.6% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Snowflake by 48,395.6% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,467,899 shares of the company’s stock valued at $786,261,000 after purchasing an additional 4,458,686 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at $477,435,000. GQG Partners LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at $311,427,000. Jennison Associates LLC lifted its stake in shares of Snowflake by 19.5% in the 2nd quarter. Jennison Associates LLC now owns 7,399,711 shares of the company’s stock valued at $1,302,201,000 after purchasing an additional 1,206,014 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at $119,432,000. 63.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNOW. JPMorgan Chase & Co. lifted their price target on Snowflake from $155.00 to $180.00 in a report on Wednesday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $216.00 price target on shares of Snowflake in a report on Tuesday, September 5th. UBS Group cut their price target on Snowflake from $170.00 to $155.00 in a report on Thursday, May 25th. HSBC assumed coverage on Snowflake in a report on Friday. They set a “buy” rating and a $201.00 target price on the stock. Finally, BNP Paribas raised Snowflake from an “underperform” rating to a “neutral” rating and set a $173.00 target price on the stock in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $190.85.

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.