Christopher William Degnan Sells 12,782 Shares of Snowflake Inc. (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the transaction, the executive now owns 354,954 shares in the company, valued at approximately $55,571,598.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snowflake Trading Up 1.0 %

Snowflake stock opened at $159.32 on Friday. Snowflake Inc. has a fifty-two week low of $138.40 and a fifty-two week high of $237.72. The business’s 50-day simple moving average is $164.60 and its two-hundred day simple moving average is $178.82.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on SNOW. Needham & Company LLC cut their price target on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Bank of America reduced their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Raymond James boosted their price objective on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Royal Bank of Canada reduced their target price on Snowflake from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $202.77.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in SNOW. Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter worth approximately $838,455,000. Vanguard Group Inc. grew its position in Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares during the period. FMR LLC increased its holdings in Snowflake by 32.1% in the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock valued at $940,160,000 after buying an additional 1,496,235 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter valued at about $226,302,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Snowflake in the 1st quarter valued at about $171,608,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.