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 business’s stock in a transaction that occurred on 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 directly owns 311,999 shares in the company, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Trading Up 3.0 %

Snowflake stock traded up $4.71 during trading on Friday, hitting $162.22. The company’s stock had a trading volume of 3,354,941 shares, compared to its average volume of 3,376,182. The stock’s fifty day moving average is $151.05 and its 200 day moving average is $132.46. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market capitalization of $53.55 billion, a price-to-earnings ratio of -47.85 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board increased its stake in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after buying an additional 881,700 shares in the last quarter. AQR Capital Management LLC grew its stake in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after buying an additional 660,168 shares during the period. SG Americas Securities LLC increased its position in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after acquiring an additional 628,511 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after acquiring an additional 600,469 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNOW. Argus started coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Barclays raised their price target on shares of Snowflake from $172.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI upped their price target on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.03.

About Snowflake

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.