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Christian Kleinerman, Executive Vice President of Product Management at Snowflake Inc . (NYSE:SNOW), recently sold 15,000 shares of the company’s Class A common stock. The shares were sold at a price of $171.75 each, totaling approximately $2.58 million. This transaction was conducted as part of a pre-arranged 10b5-1 trading plan that Kleinerman adopted on December 22, 2023. The sale comes as Snowflake’s stock has surged over 63% in the past six months, with the current market capitalization standing at $58.6 billion. According to InvestingPro data, the stock is currently trading near its Fair Value, while 18 analysts have revised their earnings estimates upward for the upcoming period.
Following the sale, Kleinerman holds 594,975 shares directly, with additional shares held indirectly through various trusts and an LLC. These holdings include 33,499 shares in the 2022 Grantor Retained Annuity Trust, 100,000 shares each in the 2023 and 2024 Grantor Retained Annuity Trusts, and 58,568 shares held by the Kleinerman 2020 Dynasty LLC. InvestingPro analysis shows the company maintains a ’Fair’ overall financial health score, with strong liquidity positions and moderate debt levels. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Snowflake Inc. reported robust fourth-quarter earnings, with product revenue surpassing expectations by 28%, exceeding the consensus projection of 24%. Deutsche Bank (ETR:DBKGn), RBC Capital, and Stifel analysts have all responded positively to these results, with Deutsche Bank raising its price target for Snowflake to $220, RBC Capital increasing it to $221, and Stifel setting a target of $210. Snowflake’s guidance for fiscal year 2026 anticipates a product revenue growth rate of 24%, slightly above the consensus estimate of 23%. The company’s non-GAAP operating margin has also expanded, indicating improved operational efficiency.
In addition to financial performance, Snowflake has announced the opening of a new Silicon Valley AI Hub and plans to invest up to $200 million in AI startups. The initiative includes a Startup Accelerator Program in partnership with venture capital firms like Altimeter and Sequoia Capital. Snowflake is also investing $20 million in a program to train individuals in AI and data analytics. The company’s CFO, Mike Scarpelli, has announced his retirement, leaving the company in a strong operational state, according to Stifel analysts. These developments reflect Snowflake’s continued focus on innovation and growth in the cloud data platform market.
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