Snowflake Inc. (NYSE:SNOW) CRO Sells $2,001,149.92 in Stock

Snowflake Inc. (NYSE:SNOW) CRO Christopher William Degnan sold 12,782 shares of the business’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 directly owns 354,954 shares in the company, valued at approximately $55,571,598.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Snowflake Trading Up 1.0 %

NYSE SNOW opened at $159.32 on Monday. The business’s 50-day moving average price is $163.20 and its 200 day moving average price is $179.12. Snowflake Inc. has a twelve month low of $138.40 and a twelve month high of $237.72. The company has a market capitalization of $53.24 billion, a PE ratio of -62.48 and a beta of 0.90.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.05. The company 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%. Equities analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

Institutional Investors Weigh In On Snowflake

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new stake in Snowflake during the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC grew its stake in shares of Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Snowflake in the first quarter valued at about $31,000. Provence Wealth Management Group acquired a new stake in shares of Snowflake in the third quarter valued at about $30,000. Finally, M&R Capital Management Inc. grew its stake in shares of Snowflake by 100.0% in the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Citigroup dropped their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Bank of America dropped their price objective on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Snowflake in a report on Thursday, February 29th. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $202.77.

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.