OV Management LLC Has $545,000 Stock Holdings in Snowflake Inc. (NYSE:SNOW)

OV Management LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,528 shares of the company’s stock after buying an additional 199 shares during the period. OV Management LLC’s holdings in Snowflake were worth $545,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC bought a new position in Snowflake in the fourth quarter valued at about $750,572,000. Jennison Associates LLC increased its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Pictet Asset Management Holding SA raised its holdings in Snowflake by 1,303.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,719,704 shares of the company’s stock worth $265,539,000 after purchasing an additional 1,597,148 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,968 shares of company stock worth $84,363,550 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNOW has been the topic of several analyst reports. UBS Group increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Piper Sandler increased their price target on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Wells Fargo & Company upped their price objective on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Truist Financial reduced their target price on Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Monday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $203.83.

Snowflake Price Performance

NYSE:SNOW opened at $146.29 on Tuesday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a market cap of $48.29 billion, a P/E ratio of -43.15 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50-day simple moving average is $171.49 and its 200 day simple moving average is $151.82.

Snowflake 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.