Insider Selling: Snowflake Inc. (NYSE:SNOW) CRO Sells 76,692 Shares of Stock

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction that occurred on Thursday, November 21st. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Snowflake Trading Down 0.1 %

SNOW stock opened at $171.19 on Wednesday. The firm has a 50-day moving average price of $122.43 and a 200-day moving average price of $128.01. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market capitalization of $57.38 billion, a P/E ratio of -50.50 and a beta of 0.83.

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 boosted its holdings in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after acquiring an additional 104 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Snowflake by 30.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock worth $72,000 after acquiring an additional 108 shares during the last quarter. LRI Investments LLC increased its holdings in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Finally, Hoylecohen LLC raised its position in Snowflake by 2.7% in the second quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock valued at $589,000 after purchasing an additional 115 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on SNOW. UBS Group reduced their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. KeyCorp upped their price target on shares of Snowflake from $150.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Evercore ISI increased their price target on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company increased their target price on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 21st. One research 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 company’s stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $181.09.

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.