Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan Sells 76,692 Shares

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the sale, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Snowflake Trading Up 2.5 %

Shares of SNOW opened at $171.60 on Tuesday. The firm has a market cap of $57.52 billion, a price-to-earnings ratio of -50.62 and a beta of 0.83. The stock has a 50 day moving average of $121.23 and a 200-day moving average of $127.91. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Snowflake in the 1st quarter worth approximately $29,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake during the 2nd quarter valued at approximately $27,000. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in Snowflake during the 3rd quarter valued at approximately $30,000. Finally, Global Financial Private Client LLC acquired a new position in Snowflake during the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SNOW shares. UBS Group cut their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Mizuho increased their price objective on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Monness Crespi & Hardt increased their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating and issued a $185.00 price objective (up previously from $165.00) on shares of Snowflake in a research report on Thursday, November 21st. Finally, Jefferies Financial Group raised their price target on Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.09.

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.