Christian Kleinerman Sells 2,500 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total transaction of $646,400.00. Following the completion of the transaction, the executive vice president owned 397,879 shares in the company, valued at $102,875,594.24. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The shares were sold at an average price of $228.45, for a total transaction of $598,767.45.
• On Tuesday, June 16th, Christian Kleinerman sold 2,986 shares of Snowflake stock. The shares were sold at an average price of $240.00, for a total transaction of $716,640.00.
• On Tuesday, June 9th, Christian Kleinerman sold 2,729 shares of Snowflake stock. The stock was sold at an average price of $239.00, for a total transaction of $652,231.00.
• On Monday, June 1st, Christian Kleinerman sold 10,000 shares of Snowflake stock. The shares were sold at an average price of $272.00, for a total transaction of $2,720,000.00.
• On Thursday, May 28th, Christian Kleinerman sold 100 shares of Snowflake stock. The stock was sold at an average price of $236.77, for a total value of $23,677.00.
• On Thursday, May 28th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The stock was sold at an average price of $236.77, for a total value of $1,183,850.00.

Snowflake Price Performance

NYSE SNOW opened at $262.62 on Wednesday. The company has a market capitalization of $91.02 billion, a PE ratio of -74.61 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average is $207.53 and its 200 day moving average is $190.90. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. Sell-side analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current year.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Snowflake in the 4th quarter valued at about $974,091,000. Jennison Associates LLC grew its position in shares of Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares in the last quarter. Coatue Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth $441,277,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Snowflake during the fourth quarter valued at $345,619,000. Finally, Vanguard Group Inc. raised its holdings in shares of Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after acquiring an additional 1,448,094 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on SNOW. HSBC set a $289.00 price target on shares of Snowflake and gave the company a “buy” rating in a report on Friday, May 29th. Canaccord Genuity Group increased their price objective on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Mizuho lifted their target price on shares of Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price target on Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, Sanford C. Bernstein boosted their price objective on Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $293.53.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analysts and market commentary say Snowflake’s AI Data Cloud is gaining traction, with accelerating adoption, new AI products, customer wins, and partnerships supporting the company’s goal of about 30% revenue growth. Snowflake’s AI Data Cloud Gains Traction: More Upside Ahead?
• Positive Sentiment: Snowflake is also benefiting from continued investor attention around its AI positioning and “trending stock” status, which can help keep momentum strong if the company continues to show execution. Snowflake Inc. (SNOW) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Another upbeat note highlights Snowflake’s expanding role in enterprise AI readiness, with enterprises increasingly using its platform for secure data access, collaboration, and AI-enabled operations. Snowflake Expands Role in Enterprise AI Readiness
• Positive Sentiment: Recent commentary says Snowflake’s backlog and broader data-opportunity narrative are starting to show results, reinforcing the long-term growth case for investors. Snowflake’s $80 Billion Data Bet Is Starting to Show Results

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.