Snowflake Inc. CRO Christopher William Degnan Sells 12,782 Shares

On January 2nd, Christopher William Degnan, the Chief Revenue Officer (CRO) of Snowflake Inc. (NYSE:SNOW), sold 12,782 shares of the company's stock. The shares were sold at an average price of $157.24 each, leading to a total transaction value of $2,009,841.68. Following this sale, Degnan now holds 311,999 shares in Snowflake, which are valued at approximately $49,058,722.76. It is important to note that this trade indicates a 3.94% reduction in his stake in the company. This transaction was reported in a document submitted to the Securities and Exchange Commission (SEC) and is available for public viewing on their website.

Previous Stock Transactions by Degnan

Christopher William Degnan has been active in the stock market recently. On December 2nd, he sold another 12,782 shares of Snowflake stock at an average price of $174.06, resulting in a total value of $2,224,834.92. Additionally, on November 21st, he sold 76,692 shares at an average price of $168.42, accumulating a total of $12,916,466.64 from that transaction.

Current Stock Performance

As of the latest trading session on Friday, Snowflake stock increased by $4.71, reaching $162.22. During this trading period, the volume of shares traded was 3,354,941, slightly below the average volume of 3,376,182 shares. The fifty-day moving average of the stock stands at $151.05, while the two-hundred-day moving average is $132.46. Over the past year, Snowflake has experienced a low of $107.13 and a high of $237.72. The company currently has a market capitalization of $53.55 billion, with a price-to-earnings ratio of -47.85 and a beta of 1.03. Moreover, Snowflake's financial ratios indicate a debt-to-equity ratio of 0.77 and both a quick ratio and a current ratio of 1.88, showing a solid liquidity position.

Institutional Investor Movements

In recent times, several large institutional investors have adjusted their holdings in Snowflake. Notably, Ontario Teachers Pension Plan Board significantly increased its stake by 19,399.2% in the third quarter, now owning 2,572,336 shares worth $295,459,000 after purchasing an additional 2,559,144 shares. Similarly, Two Sigma Advisers LP raised its position by 27.9%, owning 4,043,200 shares valued at $464,402,000. Additionally, AQR Capital Management LLC grew its stake by 210.0%, now holding 974,576 shares worth $131,656,000 after acquiring 660,168 more shares. Other notable increases include SG Americas Securities LLC and Daiwa Securities Group Inc., whose positions grew by 471.9% and 90.3%, respectively. Currently, hedge funds and institutional investors own approximately 65.10% of Snowflake's shares.

Analyst Ratings

Several financial analysts have recently published reports regarding Snowflake's stock. Argus initiated coverage and rated it as a "hold." In contrast, Barclays raised its price target for Snowflake from $172.00 to $190.00 while maintaining an "equal weight" rating. TD Cowen also increased its price estimate from $180.00 to $190.00 and upgraded the stock to "buy." Deutsche Bank and Evercore ISI followed suit, also raising price targets and assigning "buy" or "outperform" ratings. Overall, among analysts, two have rated Snowflake as a sell, eleven have a hold rating, and twenty-six have labeled it as a buy. According to MarketBeat, the consensus rating for the stock is categorized as a "Moderate Buy," with a consensus price target of $185.03.

About Snowflake Inc.

Snowflake Inc. provides a cloud-based data platform serving various organizations in the United States and worldwide. Its platform, known as Data Cloud, allows customers to unify their data into a single source of truth, facilitating meaningful business insights and the development of data-driven applications. Additionally, it integrates artificial intelligence capabilities to address business challenges.

Snowflake, Shares, Stock