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 stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares in the company, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were 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 value of $12,916,466.64.

Snowflake Stock Performance

Snowflake stock opened at $162.22 on Friday. The stock has a market cap of $53.55 billion, a PE ratio of -47.85 and a beta of 1.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $237.72. The business’s 50-day moving average price is $151.98 and its two-hundred day moving average price is $132.71.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $180.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Wells Fargo & Company upped their price target on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Finally, TD Cowen lifted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $185.03.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently added to or reduced their stakes in the stock. Modus Advisors LLC grew its stake in shares of Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the last quarter. Catalyst Private Wealth LLC grew its position in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares during the last quarter. Clear Creek Financial Management LLC increased its holdings in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares in the last quarter. Covestor Ltd raised its position in Snowflake by 16.2% in the third quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after purchasing an additional 115 shares during the last quarter. Finally, Alta Wealth Advisors LLC boosted its stake in shares of Snowflake by 3.9% during the third quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company’s stock valued at $369,000 after purchasing an additional 121 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.