OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 86.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Groupama Asset Managment purchased a new stake in shares of Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter worth about $29,000. Blue Bell Private Wealth Management LLC increased its stake in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co raised its holdings in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $38,000. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. Citigroup boosted their price target on Snowflake from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Stifel Nicolaus increased their price objective on Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. BTIG Research upgraded Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a report on Thursday, February 20th. Finally, JMP Securities restated a "market outperform" rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $205.08.

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Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 7,016 shares of Snowflake stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $1,092,321.04. Following the sale, the director now directly owns 182,999 shares of the company's stock, valued at approximately $28,491,114.31. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,968 shares of company stock valued at $50,900,550 in the last three months. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Price Performance

Shares of NYSE:SNOW traded down $0.31 during trading on Tuesday, hitting $162.86. 3,375,037 shares of the company's stock were exchanged, compared to its average volume of 6,330,792. The business's 50-day simple moving average is $172.76 and its 200 day simple moving average is $150.25. The company has a market cap of $53.76 billion, a price-to-earnings ratio of -48.04 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.