Snowflake Inc. CRO Christopher William Degnan Sells 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, bringing the total amount of the transaction to approximately $2,009,841.68. Following this sale, Degnan now holds a total of 311,999 shares in Snowflake, with a current value estimated at around $49,058,722.76. This recent trade represents a 3.94% decrease in his ownership stake in the company.

The details of this transaction were made public through a filing with the Securities and Exchange Commission (SEC), which can be reviewed on their official website.

Additional Trading Activity by Degnan

Christopher William Degnan has been active in the market recently. Just prior to this transaction, he sold another 12,782 shares on December 2nd at an average price of $174.06, amounting to approximately $2,224,834.92. Earlier, on November 21st, he also sold 76,692 shares at an average price of $168.42, resulting in a total value of around $12,916,466.64.

Snowflake Stock Performance

After these recent transactions, Snowflake stock experienced a positive increase during trading on the following Friday, rising $4.71 to reach $162.22. During that trading session, a total volume of 3,354,941 shares changed hands, slightly below its average trading volume of 3,376,182 shares. Snowflake's stock has seen a substantial fluctuation over the past year, with a low of $107.13 and a high of $237.72. Currently, the company has a market capitalization of $53.55 billion and a price-to-earnings ratio of -47.85.

Institutional Investment Changes

In addition to individual trading activity, there have been significant movements among institutional investors regarding Snowflake stock. For instance, the Ontario Teachers Pension Plan Board notably increased its holdings by 19,399.2% in the third quarter, now owning 2,572,336 shares valued at $295,459,000. Similarly, Two Sigma Advisers LP raised its position by 27.9%, acquiring an additional 881,700 shares, bringing its total to 4,043,200 shares valued at $464,402,000. Other institutional investors like AQR Capital Management and SG Americas Securities have also notably increased their stakes in Snowflake during recent quarters.

Analyst Perspectives

Recently, various analysts have provided insights and ratings on Snowflake shares. Argus initiated coverage with a “hold” rating, while Barclays raised its price target from $172 to $190, rating the stock as “equal weight.” TD Cowen and Deutsche Bank also increased their price objectives to $190. Currently, Snowflake enjoys a consensus rating of “Moderate Buy” from analysts, with many recommending it as a favorable investment.

About Snowflake Inc.

Snowflake Inc. is a cloud-based data platform company that operates in the United States as well as internationally. Its platform allows organizations to unify their data into a single source, enabling meaningful business insights and facilitating the development of data-driven applications.

Snowflake, Degnan, Shares