Christian Kleinerman Sells 3,765 Shares of Snowflake Inc. (NYSE:SNOW) Stock

On March 18th, Christian Kleinerman, the Executive Vice President of Snowflake Inc. (NYSE:SNOW), carried out a transaction involving the sale of 3,765 shares of the company's stock. The shares were sold at an average price of $155.69, bringing the total transaction value to $586,172.85. Following this sale, Kleinerman owns a total of 616,602 shares of Snowflake, which are valued at approximately $95,998,765.38. This transaction represents a 0.61% decrease in his ownership stake in the company. The sale was reported in a filing with the Securities and Exchange Commission, which can be accessed online.

Recently, Kleinerman has executed several other stock transactions. On March 11th, he sold 685 shares at an average price of $147.24, resulting in a total value of $100,859.40. Earlier, on March 4th, he sold 15,000 shares at an average price of $171.75, which totaled $2,576,250.00. On February 4th, another sale of 15,000 shares was made at an average price of $186.50, worth $2,797,500.00. In addition, on December 23rd, he sold 861 shares at an average price of $165.31, amounting to $142,331.91.

Snowflake Stock Performance

As of Wednesday, Snowflake's stock experienced a slight increase, trading up $1.53 during mid-day trading, reaching $155.89. A total of 4,554,018 shares exchanged hands, which is lower than the company's average trading volume of 6,383,736 shares. Currently, Snowflake has a market capitalization of about $51.46 billion, with a price-to-earnings (PE) ratio of -45.98 and a beta of 1.07. The company holds a debt-to-equity ratio of 0.77, with both the current and quick ratios at 1.88. Over the last year, Snowflake's stock has seen a low of $107.13 and a high of $194.40, with its 50-day moving average at $173.01 and a 200-day moving average at $148.93.

Institutional Trading of Snowflake

In recent months, various hedge funds and institutional investors have been active in buying and selling shares of Snowflake. For example, Toronto Dominion Bank boosted its stake in Snowflake by 24.1% in the third quarter, now owning 37,226 shares valued at approximately $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Meanwhile, Prospect Financial Services LLC entered a new position worth about $288,000. Independent Advisor Alliance increased its position by 15.5% in the same quarter and now owns 4,078 shares worth $468,000, following the purchase of an additional 548 shares. Furthermore, Sumitomo Mitsui Trust Group Inc. raised its stake in the fourth quarter by 1.3%, now holding 673,715 shares valued at $104,028,000 after buying an additional 8,857 shares. Lastly, Bourgeon Capital Management LLC established a new position during the fourth quarter worth approximately $5,851,000. Together, institutional investors now hold 65.10% of Snowflake's stock.

Wall Street Analysts Forecast Growth

Several brokerage firms have recently shared their outlook on Snowflake's stock. Stifel Nicolaus raised their price target for Snowflake from $187.00 to $210.00, giving it a "buy" rating in a report published on February 27th. Similarly, Rosenblatt Securities adjusted their target from $186.00 to $205.00 with a "buy" rating. KeyCorp also lifted their target from $210.00 to $220.00, rating the stock as "overweight." Canaccord Genuity Group increased their price target from $190.00 to $220.00 with a "buy" rating. Finally, Cantor Fitzgerald set their new target at $228.00, also rating it as "overweight." At present, among analysts, one has rated the stock as a sell, nine as hold, thirty as buy, and one has issued a strong buy rating, leading to an overall average rating of "Moderate Buy" and an average price target of $202.92.

Snowflake Company Profile

Snowflake Inc. provides a cloud-based data platform to organizations both in the United States and internationally. Their platform, known as Data Cloud, helps customers consolidate data to create a single source of truth. This supports meaningful business insights and enables the development of data-driven applications. Furthermore, the platform employs artificial intelligence (AI) to address various business challenges.

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