Insider Selling: Snowflake Inc. (NYSE:SNOW) CRO Sells 76,692 Shares of Stock

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction dated 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 directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $173.62 on Thursday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market cap of $58.20 billion, a price-to-earnings ratio of -51.22 and a beta of 0.83. The stock’s 50 day moving average price is $123.68 and its 200 day moving average price is $128.32.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNOW. ProShare Advisors LLC increased 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 buying an additional 295 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Snowflake by 132.4% in the first quarter. Gamco Investors INC. ET AL now owns 5,810 shares of the company’s stock valued at $939,000 after buying an additional 3,310 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Snowflake in the first quarter valued at $238,000. LRI Investments LLC acquired a new stake in Snowflake during the 1st quarter valued at $29,000. Finally, BOKF NA raised its stake in Snowflake by 1,424.9% during the 1st quarter. BOKF NA now owns 7,960 shares of the company’s stock valued at $1,278,000 after purchasing an additional 7,438 shares during the period. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. Scotiabank decreased their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. KeyCorp lifted their price target on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC lifted their price target on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Bank of America lifted their price target on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Wedbush upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $181.09.

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.