Christian Kleinerman Sells 1,500 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, March 18th, Christian Kleinerman sold 12,636 shares of Snowflake stock. The stock was sold at an average price of $157.32, for a total transaction of $1,987,895.52.
• On Thursday, March 14th, Christian Kleinerman sold 1,500 shares of Snowflake stock. The stock was sold at an average price of $161.94, for a total transaction of $242,910.00.
• On Wednesday, February 14th, Christian Kleinerman sold 1,500 shares of Snowflake stock. The stock was sold at an average price of $230.00, for a total transaction of $345,000.00.
• On Friday, February 9th, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $230.00, for a total transaction of $2,300,000.00.
• On Monday, February 5th, Christian Kleinerman sold 10,000 shares of Snowflake stock. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00.
• On Wednesday, January 24th, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $210.00, for a total transaction of $2,100,000.00.

Snowflake Price Performance

SNOW traded down $1.50 during mid-day trading on Wednesday, hitting $148.80. The stock had a trading volume of 3,759,043 shares, compared to its average volume of 6,717,739. The stock’s fifty day simple moving average is $182.44 and its 200-day simple moving average is $179.47. The firm has a market capitalization of $49.73 billion, a price-to-earnings ratio of -58.35 and a beta of 0.91. Snowflake Inc. has a 1-year low of $135.26 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. As a group, research analysts expect that Snowflake Inc. will post -1.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Snowflake in a research report on Thursday, February 29th. Oppenheimer dropped their price target on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Evercore ISI dropped their price target on shares of Snowflake from $250.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, Piper Sandler reissued an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. PNC Financial Services Group Inc. raised its holdings in shares of Snowflake by 79.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,293 shares of the company’s stock worth $984,000 after acquiring an additional 1,897 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Snowflake during the first quarter worth $2,880,000. Panagora Asset Management Inc. raised its holdings in shares of Snowflake by 24.8% during the first quarter. Panagora Asset Management Inc. now owns 2,718 shares of the company’s stock worth $623,000 after acquiring an additional 540 shares during the period. Raymond James Trust N.A. bought a new position in Snowflake in the first quarter valued at $362,000. Finally, Cibc World Market Inc. grew its position in Snowflake by 37.2% in the first quarter. Cibc World Market Inc. now owns 13,959 shares of the company’s stock valued at $3,198,000 after purchasing an additional 3,783 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.