Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan Sells 12,782 Shares

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Christopher William Degnan also recently made the following trade(s):

• On Monday, December 2nd, Christopher William Degnan sold 12,782 shares of Snowflake stock. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92.
• On Thursday, November 21st, Christopher William Degnan sold 76,692 shares of Snowflake stock. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $162.22 on Friday. The firm has a 50 day simple moving average of $151.98 and a 200 day simple moving average of $132.67. The company has a market cap of $53.55 billion, a price-to-earnings ratio of -47.85 and a beta of 1.03. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analyst Weigh In

SNOW has been the subject of several research reports. Argus assumed coverage on Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. Bank of America lifted their target price on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Needham & Company LLC increased their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Monness Crespi & Hardt boosted their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI increased their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in the company. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the 2nd quarter valued at approximately $27,000. Groupama Asset Managment acquired a new stake in Snowflake in the third quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in Snowflake during the 3rd quarter worth $30,000. Fortitude Family Office LLC acquired a new position in Snowflake during the 3rd quarter worth about $34,000. Finally, Larson Financial Group LLC grew its position in shares of Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after buying an additional 152 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.