Key Points
- Snowflake EVP Christian Kleinerman sold 2,500 shares on July 1 at an average price of $258.56, for total proceeds of $646,400. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Kleinerman still owned 397,879 shares worth about $102.9 million. The filing also notes several earlier stock sales by the executive in June and May.
- Snowflake’s stock was up 0.7% to $261.88, and the company recently reported better-than-expected quarterly results with EPS of $0.39 on revenue of $1.39 billion, while analysts currently rate the stock a Moderate Buy.
Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Teresa Briggs sold 343 shares of Snowflake stock in a transaction on Monday, July 6th. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73. Following the completion of the sale, the director directly owned 5,060 shares of the company's stock, valued at approximately $1,290,856.60. The trade was a 6.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Teresa Briggs also recently made the following trade(s):
- On Thursday, July 2nd, Teresa Briggs sold 344 shares of Snowflake stock. The shares were sold at an average price of $254.64, for a total transaction of $87,596.16.
Snowflake Stock Performance
Shares of SNOW opened at $265.91 on Tuesday. The firm has a market capitalization of $92.16 billion, a P/E ratio of -75.41 and a beta of 1.35. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The stock has a 50 day moving average price of $205.08 and a two-hundred day moving average price of $190.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.
Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating 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 company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $0.24 earnings per share. The company's revenue for the quarter was up 33.5% on a year-over-year basis. Equities analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.
Institutional Trading of Snowflake
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Snowflake by 5.1% during the 4th 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 during the period. Jennison Associates LLC lifted its stake in Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the last quarter. Nuveen LLC grew its holdings in Snowflake by 2.3% during the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company's stock valued at $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC grew its holdings in Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company's stock valued at $1,052,195,000 after purchasing an additional 249,668 shares during the period. Finally, Norges Bank purchased a new stake in Snowflake in the fourth quarter worth $974,091,000. Institutional investors own 65.10% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Oppenheimer lifted their price objective on shares of Snowflake from $250.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. BTIG Research raised their price target on shares of Snowflake from $280.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Benchmark boosted their price target on shares of Snowflake from $200.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Morgan Stanley upped their price objective on shares of Snowflake from $245.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a research note 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 given a Hold rating and one has issued a Sell 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 $293.53.
Read Our Latest Stock Analysis on Snowflake
Snowflake Company Profile
(
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.
Further Reading
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