Insider Selling: Snowflake Inc. (NYSE:SNOW) CRO Sells 12,782 Shares of Stock

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 stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, 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 filing with the SEC, which is available through the SEC website.

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 stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92.
• On Thursday, November 21st, Christopher William Degnan sold 76,692 shares of Snowflake stock. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64.

Snowflake Price Performance

Snowflake stock traded up $4.71 during trading hours on Friday, hitting $162.22. 3,354,941 shares of the company traded hands, compared to its average volume of 3,376,182. The firm’s 50-day simple moving average is $151.05 and its two-hundred day simple moving average is $132.46. The firm has a market cap of $53.55 billion, a P/E ratio of -47.85 and a beta of 1.03. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SNOW. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Truist Financial reiterated a “buy” rating and set a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Finally, Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.03.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Everence Capital Management Inc. acquired a new position in shares of Snowflake in the 4th quarter worth approximately $1,390,000. GAMMA Investing LLC grew its position in Snowflake by 59.6% in the fourth quarter. GAMMA Investing LLC now owns 391 shares of the company’s stock worth $60,000 after buying an additional 146 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Snowflake in the third quarter valued at $12,145,000. Garde Capital Inc. lifted its position in shares of Snowflake by 9.5% during the 3rd quarter. Garde Capital Inc. now owns 6,050 shares of the company’s stock valued at $695,000 after acquiring an additional 526 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after acquiring an additional 7,373 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.