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 firm’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 completion of the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $4.16 during midday trading on Monday, reaching $171.60. The company had a trading volume of 15,240,402 shares, compared to its average volume of 6,812,997. The company has a fifty day simple moving average of $121.23 and a two-hundred day simple moving average of $127.91. The firm has a market cap of $57.52 billion, a price-to-earnings ratio of -50.62 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC lifted its holdings in shares of Snowflake by 26.1% in the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after purchasing an additional 295 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Snowflake by 132.4% in the first quarter. Gamco Investors INC. ET AL now owns 5,810 shares of the company’s stock worth $939,000 after buying an additional 3,310 shares during the last quarter. Gabelli Funds LLC bought a new position in Snowflake during the first quarter valued at approximately $238,000. LRI Investments LLC acquired a new stake in Snowflake in the first quarter valued at approximately $29,000. Finally, BOKF NA grew its position in Snowflake by 1,424.9% in the first quarter. BOKF NA now owns 7,960 shares of the company’s stock worth $1,278,000 after acquiring an additional 7,438 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNOW. Robert W. Baird dropped their target price on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group reduced their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. TD Cowen upped their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.