Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan Sells 76,692 Shares

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This represents a 18.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Snowflake Trading Up 2.5 %

NYSE:SNOW opened at $171.60 on Tuesday. The firm has a market capitalization of $57.52 billion, a price-to-earnings ratio of -50.62 and a beta of 0.83. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72. The business’s fifty day moving average price is $121.23 and its 200 day moving average price is $127.91.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SNOW shares. Loop Capital reduced their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Truist Financial reiterated a “buy” rating and set a $210.00 price target on shares of Snowflake in a research report on Thursday, November 21st. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. JMP Securities reduced their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank grew its stake in Snowflake by 17.2% in the first quarter. Comerica Bank now owns 29,267 shares of the company’s stock valued at $4,729,000 after purchasing an additional 4,296 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Snowflake by 23.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 227,100 shares of the company’s stock valued at $37,484,000 after purchasing an additional 43,062 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Snowflake by 201.5% during the 1st quarter. Cetera Investment Advisers now owns 63,688 shares of the company’s stock worth $10,292,000 after acquiring an additional 42,563 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Snowflake during the 1st quarter worth about $29,000. Finally, Fulton Bank N.A. boosted its stake in shares of Snowflake by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,538 shares of the company’s stock worth $208,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other 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.