Key Points
- Snowflake SVP Vivek Raghunathan sold 3,876 shares on June 16 at an average price of $240, for total proceeds of $930,240. The filing says the transaction was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to equity vesting.
- The sale reduced Raghunathan’s ownership by 1.48%, but he still holds 258,689 shares valued at about $62.1 million. The article notes he made a similar 3,876-share sale in April at a much lower price.
- Snowflake’s stock has been supported by solid earnings and analyst sentiment, with the company recently beating quarterly EPS and revenue estimates. Several firms raised price targets, and the consensus rating remains “Moderate Buy,” though competition from Databricks remains a concern.
Snowflake Inc. (NYSE:SNOW - Get Free Report) EVP Christian Kleinerman sold 2,986 shares of Snowflake stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total value of $716,640.00. Following the completion of the transaction, the executive vice president owned 405,652 shares in the company, valued at $97,356,480. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Christian Kleinerman also recently made the following trade(s):
- On Tuesday, June 9th, Christian Kleinerman sold 2,729 shares of Snowflake stock. The shares were sold at an average price of $239.00, for a total value 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 value of $2,720,000.00.
- 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 value 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 value 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 value of $445,596.21.
Snowflake Price Performance
Shares of NYSE SNOW opened at $234.24 on Thursday. 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 company has a market cap of $81.19 billion, a PE ratio of -66.55 and a beta of 1.35. The business has a 50-day simple moving average of $178.86 and a two-hundred day simple moving average of $189.60. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99.
Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company's quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the company earned $0.24 earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Rathbones Group PLC lifted its holdings in Snowflake by 255.8% in the first quarter. Rathbones Group PLC now owns 25,932 shares of the company's stock valued at $3,911,000 after acquiring an additional 18,643 shares during the period. Parallel Advisors LLC lifted its holdings in Snowflake by 3.1% in the first quarter. Parallel Advisors LLC now owns 5,684 shares of the company's stock valued at $857,000 after acquiring an additional 169 shares during the period. Allen Capital Group LLC lifted its holdings in Snowflake by 3.3% in the first quarter. Allen Capital Group LLC now owns 22,996 shares of the company's stock valued at $3,468,000 after acquiring an additional 742 shares during the period. Glenmede Trust Co. NA lifted its holdings in Snowflake by 10.5% in the first quarter. Glenmede Trust Co. NA now owns 1,928 shares of the company's stock valued at $291,000 after acquiring an additional 183 shares during the period. Finally, Verus Capital Partners LLC lifted its holdings in Snowflake by 65.5% in the first quarter. Verus Capital Partners LLC now owns 2,031 shares of the company's stock valued at $306,000 after acquiring an additional 804 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
SNOW has been the subject of a number of research reports. Truist Financial lifted their target price on Snowflake from $275.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 5th. Oppenheimer lifted their target price on Snowflake from $250.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. BTIG Research lifted their target price on Snowflake from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. HSBC set a $289.00 target price on Snowflake and gave the stock a "buy" rating in a report on Friday, May 29th. Finally, TD Cowen reaffirmed a "buy" rating and set a $300.00 target price on shares of Snowflake in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $291.77.
Get Our Latest Analysis on Snowflake
Snowflake News Roundup
Here are the key news stories impacting Snowflake this week:
- Positive Sentiment: Snowflake announced that Unlimitail selected its platform to power a new privacy-preserving retail media data hub across Europe and Latin America, highlighting continued customer adoption of Snowflake’s data cloud and clean room tools. Article Title
- Positive Sentiment: EDO said it is using Snowflake Cortex AI to power ChatEDO, reinforcing Snowflake’s role in enterprise AI workflows and showing how customers are building higher-value products on its platform. Article Title
- Positive Sentiment: Jefferies said Snowflake still looks well-positioned despite heavier competition from Databricks, noting that both companies can benefit from expanding enterprise demand for data and AI infrastructure. Article Title
- Neutral Sentiment: Another analyst note argued Snowflake can hold its ground against Databricks because of stronger cash flow and a more attractive valuation, which supports the investment case but does not appear to be a major catalyst on its own. Article Title
- Neutral Sentiment: Several Snowflake executives sold shares under pre-arranged 10b5-1 plans, but the filings say the sales were tied to tax withholding from equity vesting rather than a change in business outlook. Article Title
- Negative Sentiment: Coverage highlighted intensifying competition from Databricks, which may weigh on Snowflake sentiment as investors compare growth rates and market share in the AI data platform space. Article Title
About Snowflake
(
Get Free Report)
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.
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