Oppenheimer & Co. Inc. Reduces Holdings in Snowflake Inc. (NYSE:SNOW)

Oppenheimer & Co. Inc. lowered its position in Snowflake Inc. (NYSE:SNOW) by 37.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,710 shares of the company’s stock after selling 13,141 shares during the period. Oppenheimer & Co. Inc.’s holdings in Snowflake were worth $3,352,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in shares of Snowflake by 73.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after purchasing an additional 335 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in Snowflake during the third quarter worth $231,000. AM Investment Strategies LLC purchased a new stake in Snowflake in the 3rd quarter valued at $233,000. Clear Creek Financial Management LLC increased its stake in shares of Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after acquiring an additional 115 shares during the last quarter. Finally, Pure Financial Advisors LLC purchased a new position in shares of Snowflake during the 3rd quarter worth $376,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 1.8 %

Shares of NYSE:SNOW opened at $176.76 on Friday. The firm has a 50 day simple moving average of $173.19 and a 200-day simple moving average of $145.64. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent analyst reports. Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Thursday. Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Finally, Oppenheimer upped their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock worth $52,833,048 in the last ninety days. 7.80% of the stock is owned by corporate insiders.

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.