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

Oppenheimer & Co. Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 59.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,851 shares of the company's stock after purchasing an additional 13,053 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Snowflake were worth $4,003,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. LRI Investments LLC bought a new position in Snowflake in the 1st quarter valued at $29,000. Wellington Shields Capital Management LLC purchased a new position in Snowflake during the second quarter worth about $27,000. V Square Quantitative Management LLC bought a new position in Snowflake in the 3rd quarter worth about $30,000. Global Financial Private Client LLC purchased a new stake in shares of Snowflake in the 1st quarter valued at about $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Snowflake during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 2.6 %

Shares of SNOW stock traded down $3.31 during mid-day trading on Friday, reaching $125.96. 5,737,745 shares of the company's stock traded hands, compared to its average volume of 6,476,276. The company's 50-day moving average price is $116.73 and its 200-day moving average price is $128.50. The company has a market cap of $42.22 billion, a P/E ratio of -41.16 and a beta of 0.83. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) earnings per share. Snowflake's quarterly revenue was up 28.9% on a year-over-year basis. Equities analysts predict that Snowflake Inc. will post -2.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frank Slootman sold 1,606 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 $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company's stock, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 287 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares of the company's stock, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 in the last 90 days. Insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley restated an "equal weight" rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, August 22nd. Hsbc Global Res upgraded shares of Snowflake from a "moderate sell" rating to a "hold" rating in a research report on Friday, August 23rd. Wells Fargo & Company cut their target price on shares of Snowflake from $130.00 to $125.00 and set an "equal weight" rating for the company in a research report on Thursday, August 22nd. Robert W. Baird reduced their target price on Snowflake from $200.00 to $165.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. Finally, Evercore ISI dropped their price target on Snowflake from $225.00 to $170.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $172.09.

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.