Oppenheimer Asset Management Inc. Decreases Holdings in Snowflake Inc. (NYSE:SNOW)

Oppenheimer Asset Management Inc. reduced its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 47.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,325 shares of the company's stock after selling 11,246 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Snowflake were worth $1,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. LRI Investments LLC boosted its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company's stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the 2nd quarter worth about $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at about $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Snowflake in the 2nd quarter valued at about $39,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Up 0.3 %

Shares of SNOW traded up $0.41 during mid-day trading on Monday, hitting $126.37. 2,715,858 shares of the company's stock were exchanged, compared to its average volume of 6,459,431. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market capitalization of $42.36 billion, a P/E ratio of -41.36 and a beta of 0.83. The business's 50 day moving average is $116.73 and its two-hundred day moving average is $128.30.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The firm's revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) earnings per share. On average, equities research analysts forecast that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the transaction, the executive vice president now directly owns 759,473 shares of the company's stock, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 287 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares of the company's stock, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,538 shares of company stock valued at $7,061,544. Corporate insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the subject of several recent analyst reports. Needham & Company LLC cut their price target on Snowflake from $210.00 to $160.00 and set a "buy" rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities reiterated a "buy" rating and set a $180.00 price objective on shares of Snowflake in a research note on Wednesday, October 2nd. Loop Capital lowered their target price on Snowflake from $225.00 to $185.00 and set a "buy" rating on the stock in a report on Wednesday, August 21st. UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Finally, Scotiabank lowered their target price on Snowflake from $195.00 to $165.00 and set a "sector outperform" rating on the stock in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $171.59.

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.