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Christopher William Degnan, the Chief Revenue Officer of Snowflake Inc . (NYSE:SNOW), recently executed a series of stock transactions as reported in the latest SEC Form 4 filing. On February 3, 2025, Degnan sold shares of Snowflake’s Class A Common Stock totaling approximately $2.32 million. The sale prices ranged from $176.417 to $183.728 per share. The stock currently trades at $189.11, with InvestingPro analysis indicating the stock is slightly overvalued based on its Fair Value assessment.
In addition to these sales, Degnan also exercised stock options, acquiring 12,782 shares at a price of $13.48 per share, with a total transaction value of $172,301. Following these transactions, Degnan’s direct ownership stands at 308,164 shares. According to InvestingPro data, Snowflake has shown strong momentum with a 58% return over the past six months, while 33 analysts have revised their earnings upwards for the upcoming period.
These transactions were conducted under a 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for buying or selling company stock. For comprehensive insider trading analysis and 10+ additional ProTips, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Snowflake Inc. has been the focus of several analyst firms, each expressing confidence in the company’s growth potential. Wedbush Securities raised its price target on Snowflake, citing the company’s strong demand and continuous innovation, particularly in artificial intelligence (AI) and machine learning (ML). Cantor Fitzgerald initiated coverage with an Overweight rating, highlighting Snowflake’s position in the cloud data warehousing sector and its robust Remaining Performance Obligations (RPO) growth.
Barclays (LON:BARC) upgraded Snowflake’s rating to Overweight, reflecting a positive shift in expectations for the company’s performance, particularly in AI. The firm also acknowledged Snowflake’s ability to innovate and release products as a key factor in maintaining its competitive edge. Piper Sandler increased the price target for Snowflake, based on the company’s growth potential in AI, data engineering, and ML, while also noting its robust financial model.
In other recent developments, Databricks announced a $10 billion Series J funding round, increasing its valuation to $62 billion. The capital will be used for new AI product investments, strategic acquisitions, expansion of international go-to-market strategies, and providing liquidity for employees. These updates highlight the ongoing momentum in the data and analytics sector, with Snowflake and Databricks leading the charge.
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