Snowflake Inc. (NYSE:SNOW) CRO Sells $2,224,834.92 in Stock

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the sale, the executive now directly owns 323,731 shares of the company’s stock, valued at $56,348,617.86. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $12,916,466.64.

Snowflake Stock Up 0.3 %

Shares of Snowflake stock opened at $183.53 on Friday. The firm has a market cap of $61.52 billion, a price-to-earnings ratio of -54.14 and a beta of 1.03. The stock has a 50-day simple moving average of $131.51 and a 200-day simple moving average of $129.20. Snowflake Inc. has a 52-week low of $107.13 and a 52-week 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 1.58.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNOW shares. Scotiabank dropped their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Citigroup lowered their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Barclays lifted their target price on Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $182.31.

Institutional Trading of Snowflake

Institutional investors have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board raised its holdings in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP increased 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 worth $464,402,000 after buying an additional 881,700 shares during the last quarter. AQR Capital Management LLC raised its holdings in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares in the last quarter. SG Americas Securities LLC lifted 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 buying an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after acquiring an additional 600,469 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.