Insider Selling: Snowflake (NYSE:SNOW) EVP Sells $632,038.75 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,975 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $212.45, for a total transaction of $632,038.75. Following the completion of the transaction, the executive vice president directly owned 504,427 shares of the company’s stock, valued at approximately $107,165,516.15. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, December 9th, Christian Kleinerman sold 548 shares of Snowflake stock. The stock was sold at an average price of $223.31, for a total value of $122,373.88.
• On Monday, December 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $249.53, for a total value of $2,495,300.00.
• On Monday, November 3rd, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $277.73, for a total value of $2,777,300.00.
• On Friday, October 31st, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $275.00, for a total value of $1,375,000.00.
• On Wednesday, October 8th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $250.00, for a total value of $1,250,000.00.
• On Wednesday, October 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $223.88, for a total value of $2,238,800.00.
• On Tuesday, September 23rd, Christian Kleinerman sold 2,611 shares of Snowflake stock. The stock was sold at an average price of $230.48, for a total transaction of $601,783.28.

Snowflake Price Performance

SNOW stock opened at $221.59 on Friday. The firm has a 50 day moving average of $248.14 and a 200-day moving average of $227.58. The firm has a market capitalization of $75.83 billion, a P/E ratio of -54.85 and a beta of 1.09. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, sell-side analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SNOW shares. Morgan Stanley increased their price objective on Snowflake from $272.00 to $299.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft raised their price target on Snowflake from $250.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Stifel Nicolaus boosted their price objective on Snowflake from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Scotiabank restated an “outperform” rating on shares of Snowflake in a research report on Thursday, December 4th. Finally, Macquarie lifted their target price on shares of Snowflake from $235.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.32.

Institutional Trading of Snowflake

Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake in the second quarter worth about $25,000. Grey Fox Wealth Advisors LLC bought a new position in Snowflake during the 3rd quarter worth approximately $25,000. Avion Wealth increased its stake in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the period. Tripletail Wealth Management LLC purchased a new position in Snowflake in the 3rd quarter worth approximately $28,000. Finally, Rossby Financial LCC lifted its position in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after purchasing an additional 127 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

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.