OVERSEA CHINESE BANKING Corp Ltd Sells 27,420 Shares of Snowflake Inc. (NYSE:SNOW)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Snowflake Inc. (NYSE:SNOW) by 86.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,195 shares of the company’s stock after selling 27,420 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Snowflake were worth $666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Jennison Associates LLC grew its stake in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. Two Sigma Advisers LP grew its stake in Snowflake by 27.9% in the third 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 last quarter. Raymond James Financial Inc. purchased a new position in Snowflake in the fourth quarter valued at about $124,433,000. Caisse DE Depot ET Placement DU Quebec grew its stake in Snowflake by 165.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company’s stock valued at $61,439,000 after purchasing an additional 333,500 shares during the last quarter. Finally, Amundi grew its stake in Snowflake by 37.9% in the fourth quarter. Amundi now owns 1,047,327 shares of the company’s stock valued at $168,651,000 after purchasing an additional 287,729 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 685 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the completion of the transaction, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at approximately $91,673,243.64. This represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,783 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,429 shares of company stock valued at $50,065,812 in the last three months. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 0.8 %

Shares of SNOW stock opened at $157.23 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $51.90 billion, a price-to-earnings ratio of -46.38 and a beta of 1.07. The stock has a 50 day simple moving average of $172.83 and a 200-day simple moving average of $149.04. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Analyst Ratings Changes

Several research firms have issued reports on SNOW. Loop Capital lifted their target price on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Mizuho boosted their price target on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. TD Cowen boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company boosted their price target on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research note on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $205.08.

About Snowflake

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.