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

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Snowflake Price Performance

SNOW stock opened at $159.32 on Friday. Snowflake Inc. has a one year low of $138.40 and a one year high of $237.72. The firm has a 50 day simple moving average of $164.60 and a two-hundred day simple moving average of $178.82.

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

Analysts Set New Price Targets

SNOW has been the topic of several recent analyst reports. Barclays dropped their price objective on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Citigroup reduced their price objective on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. BNP Paribas raised Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $202.77.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Cigna Investments Inc. New raised its position in Snowflake by 1.6% in the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after purchasing an additional 51 shares during the period. E&G Advisors LP increased its holdings in shares of Snowflake by 3.0% in the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after buying an additional 51 shares during the period. Commerce Bank lifted its stake in shares of Snowflake by 0.8% in the 4th quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after acquiring an additional 51 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the period. Finally, Valley National Advisers Inc. grew its position in Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

About Snowflake

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.