Oppenheimer & Co. Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW – Get Rating) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,239 shares of the company’s stock after selling 973 shares during the period. Oppenheimer & Co. Inc.’s holdings in Snowflake were worth $896,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Snowflake by 25.7% in the third quarter. BlackRock Inc. now owns 12,567,822 shares of the company’s stock valued at $2,136,029,000 after purchasing an additional 2,569,953 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 8.3% in the third quarter. Vanguard Group Inc. now owns 17,293,889 shares of the company’s stock valued at $2,939,269,000 after acquiring an additional 1,327,410 shares during the period. State Street Corp boosted its holdings in shares of Snowflake by 30.6% in the third quarter. State Street Corp now owns 5,657,938 shares of the company’s stock valued at $961,623,000 after acquiring an additional 1,324,033 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $176,499,000. Finally, Bank of Montreal Can boosted its holdings in shares of Snowflake by 11,112.4% in the fourth quarter. Bank of Montreal Can now owns 761,993 shares of the company’s stock valued at $109,376,000 after acquiring an additional 755,197 shares during the period. 65.31% of the stock is currently owned by hedge funds and other institutional investors.
Snowflake Stock Performance
NYSE:SNOW opened at $170.07 on Friday. Snowflake Inc. has a 1 year low of $110.26 and a 1 year high of $205.66. The stock has a market cap of $55.27 billion, a price-to-earnings ratio of -68.03 and a beta of 0.74. The business has a fifty day moving average of $144.66 and a 200-day moving average of $147.14.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on SNOW shares. Morgan Stanley decreased their price target on Snowflake from $225.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, March 3rd. Barclays cut their price objective on Snowflake from $180.00 to $171.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Scotiabank assumed coverage on Snowflake in a research report on Wednesday, January 18th. They issued a “sector perform” rating and a $125.00 price objective for the company. Evercore ISI cut their price objective on Snowflake from $196.00 to $190.00 in a research report on Friday, May 5th. Finally, Stifel Nicolaus upgraded Snowflake from a “hold” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $185.00 in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $185.17.
Insider Buying and Selling
In related news, Director John Dennis Mcmahon sold 1,000 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $142.65, for a total value of $142,650.00. Following the completion of the sale, the director now directly owns 154,902 shares of the company’s stock, valued at approximately $22,096,770.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Benoit Dageville sold 57,564 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $140.13, for a total transaction of $8,066,443.32. Following the completion of the sale, the insider now directly owns 14,404 shares of the company’s stock, valued at approximately $2,018,432.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dennis Mcmahon sold 1,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $142.65, for a total value of $142,650.00. Following the sale, the director now directly owns 154,902 shares of the company’s stock, valued at $22,096,770.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,937 shares of company stock valued at $39,575,110. Corporate insiders own 8.90% of the company’s stock.
Snowflake Profile
Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.
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