OFI Invest Asset Management Takes Position in Snowflake Inc. (NYSE:SNOW)

OFI Invest Asset Management bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,737 shares of the company's stock, valued at approximately $408,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. 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 buying an additional 3,662,671 shares during the last quarter. State Street Corp grew its stake in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company's stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Geode Capital Management LLC increased its holdings in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock worth $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the period. 65.10% of the stock is owned by institutional investors.

Remove Ads

Snowflake Trading Up 1.8 %

Shares of SNOW traded up $2.69 during mid-day trading on Wednesday, hitting $152.59. 6,255,200 shares of the company's stock traded hands, compared to its average volume of 6,430,209. The business's 50-day moving average price is $173.51 and its 200-day moving average price is $147.59. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market capitalization of $50.37 billion, a P/E ratio of -45.01 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction 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 $28,345,319.64. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Emily Ho sold 1,508 shares of the company's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Rosenblatt Securities increased their target price on shares of Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Piper Sandler lifted their price objective on shares of Snowflake from $208.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Oppenheimer increased their target price on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Loop Capital lifted their price target on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, Bank of America raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average price target of $202.92.

Snowflake Company 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.