Insider Selling: Snowflake Inc. (NYSE:SNOW) SVP Sells 1,500 Shares of 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 transaction of $227,310.00.
• On Friday, July 14th, Christian Kleinerman sold 1,500 shares of Snowflake stock. The stock was sold at an average price of $184.94, for a total transaction of $277,410.00.

Snowflake Stock Down 0.3 %

Shares of NYSE SNOW opened at $162.41 on Friday. Snowflake Inc. has a 1 year low of $119.27 and a 1 year high of $193.94. The stock’s 50-day simple moving average is $163.92 and its 200-day simple moving average is $159.66.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 23rd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.12. Snowflake had a negative return on equity of 14.07% and a negative net margin of 35.22%. The business had revenue of $674.00 million during the quarter, compared to analyst estimates of $662.22 million. During the same quarter in the previous year, the firm posted ($0.67) EPS. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on SNOW. Wolfe Research lowered shares of Snowflake from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 25th. StockNews.com started coverage on Snowflake in a report on Thursday, August 17th. They set a “sell” rating for the company. William Blair assumed coverage on shares of Snowflake in a research note on Wednesday, June 28th. They set an “outperform” rating on the stock. UBS Group dropped their price target on shares of Snowflake from $170.00 to $155.00 in a research report on Thursday, May 25th. Finally, DA Davidson assumed coverage on shares of Snowflake in a research report on Thursday, September 7th. They set a “buy” rating and a $200.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $190.85.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Titleist Asset Management LLC acquired a new stake in Snowflake in the 1st quarter worth approximately $607,000. Asset Management One Co. Ltd. grew its position in shares of Snowflake by 3.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 88,814 shares of the company’s stock worth $13,703,000 after buying an additional 2,823 shares during the period. ING Groep NV acquired a new position in shares of Snowflake in the 1st quarter valued at approximately $2,677,000. Vestmark Advisory Solutions Inc. boosted its position in shares of Snowflake by 7.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 11,041 shares of the company’s stock worth $1,704,000 after buying an additional 759 shares during the period. Finally, Caprock Group LLC grew its stake in Snowflake by 11.8% in the first quarter. Caprock Group LLC now owns 4,869 shares of the company’s stock valued at $751,000 after purchasing an additional 514 shares in the last quarter. Institutional investors and hedge funds own 63.74% of the company’s stock.

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.