Snowflake (NYSE:SNOW) EVP Sells $2,720,000.00 in Stock

Snowflake Inc. (NYSE:SNOW) EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.00, for a total transaction of $2,720,000.00. Following the completion of the transaction, the executive vice president directly owned 418,494 shares of the company’s stock, valued at approximately $113,830,368. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Thursday, May 28th, Christian Kleinerman sold 100 shares of Snowflake stock. The shares were sold at an average price of $236.77, for a total transaction of $23,677.00.
• On Thursday, May 28th, Christian Kleinerman sold 5,000 shares of Snowflake stock. The shares were sold at an average price of $236.77, for a total transaction of $1,183,850.00.
• On Monday, March 23rd, Christian Kleinerman sold 2,621 shares of Snowflake stock. The shares were sold at an average price of $170.01, for a total transaction of $445,596.21.
• On Tuesday, March 17th, Christian Kleinerman sold 2,986 shares of Snowflake stock. The shares were sold at an average price of $175.34, for a total transaction of $523,565.24.
• On Tuesday, March 10th, Christian Kleinerman sold 550 shares of Snowflake stock. The shares were sold at an average price of $182.44, for a total transaction of $100,342.00.

Snowflake Trading Down 2.5%

Shares of Snowflake stock opened at $238.12 on Friday. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18. The stock has a market cap of $82.32 billion, a PE ratio of -67.65 and a beta of 1.35. The company has a 50-day moving average of $165.25 and a two-hundred day moving average of $190.55.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, research analysts anticipate that Snowflake Inc. will post -2.13 EPS for the current fiscal year.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Institutional Trading of Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Norges Bank acquired a new stake in Snowflake during the fourth quarter worth approximately $974,091,000. Jennison Associates LLC boosted its position in Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares during the last quarter. Coatue Management LLC acquired a new stake in shares of Snowflake in the third quarter worth approximately $441,277,000. Jericho Capital Asset Management L.P. acquired a new stake in shares of Snowflake in the fourth quarter worth approximately $345,619,000. Finally, American Century Companies Inc. boosted its position in shares of Snowflake by 233.3% in the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after acquiring an additional 1,473,354 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNOW shares. Sanford C. Bernstein increased their price target on shares of Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Snowflake from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Citigroup increased their price target on shares of Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Benchmark increased their price target on shares of Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Royal Bank Of Canada increased their price target on shares of Snowflake from $220.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.87.

Snowflake Company Profile

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.