2,737 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by OFI Invest Asset Management

OFI Invest Asset Management bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 2,737 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Groupama Asset Managment bought a new stake in Snowflake during the third quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake during the fourth quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC raised its holdings in Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co raised its holdings in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Snowflake during the fourth quarter worth approximately $38,000. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of several recent analyst reports. Needham & Company LLC boosted their target price on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Wells Fargo & Company upped their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Thursday, February 20th. Monness Crespi & Hardt upped their price target on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Mizuho upped their price target on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Stock Performance

NYSE SNOW opened at $158.54 on Monday. The firm has a market cap of $52.33 billion, a price-to-earnings ratio of -46.77 and a beta of 1.07. The company has a 50 day moving average of $173.79 and a 200-day moving average of $147.09. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at $123,625,813. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 297,193 shares of company stock valued at $50,096,313 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

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.