Insider Selling: Snowflake Inc. (NYSE:SNOW) CRO Sells 25,563 Shares of Stock


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Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 25,563 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $235.53, for a total value of $6,020,853.39. Following the transaction, the executive now directly owns 35,729 shares in the company, valued at $8,415,251.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christopher William Degnan also recently made the following trade(s):

  • On Monday, March 8th, Christopher William Degnan sold 25,563 shares of Snowflake stock. The shares were sold at an average price of $229.07, for a total value of $5,855,716.41.

NYSE:SNOW opened at $233.97 on Thursday. Snowflake Inc. has a twelve month low of $205.07 and a twelve month high of $429.00. The business has a 50 day moving average price of $243.86 and a two-hundred day moving average price of $273.75.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Tuesday, March 2nd. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.53). The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $178.64 million. The company’s revenue was up 117.2% on a year-over-year basis. On average, sell-side analysts forecast that Snowflake Inc. will post -1.77 earnings per share for the current fiscal year.

Several equities research analysts have commented on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on shares of Snowflake from $300.00 to $325.00 in a report on Wednesday, January 13th. Barclays cut their price target on shares of Snowflake from $295.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, March 10th. Rosenblatt Securities started coverage on shares of Snowflake in a research report on Tuesday, January 19th. They set a “neutral” rating and a $285.00 price objective for the company. William Blair started coverage on shares of Snowflake in a research report on Friday, December 18th. They issued a “market perform” rating for the company. Finally, Credit Suisse Group decreased their price objective on shares of Snowflake from $310.00 to $275.00 and set a “neutral” rating for the company in a research report on Wednesday, March 10th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $287.59.

Institutional investors have recently added to or reduced their stakes in the business. Kessler Investment Group LLC bought a new stake in Snowflake in the fourth quarter valued at approximately $1,691,000. Jennison Associates LLC grew its stake in shares of Snowflake by 18,581.1% during the 4th quarter. Jennison Associates LLC now owns 3,652,340 shares of the company’s stock worth $1,027,768,000 after acquiring an additional 3,632,789 shares during the period. BlackRock Inc. lifted its holdings in Snowflake by 23.7% during the 4th quarter. BlackRock Inc. now owns 1,167,311 shares of the company’s stock worth $328,481,000 after purchasing an additional 224,004 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Snowflake by 93.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 4,042 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,952 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Snowflake in the 3rd quarter valued at about $14,101,000. Hedge funds and other institutional investors own 23.16% of the company’s stock.

About Snowflake

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of various sizes in a range of industries.

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