Oppenheimer Asset Management Inc. Has $1.42 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Oppenheimer Asset Management Inc. decreased its stake in Snowflake Inc. (NYSE:SNOW) by 47.7% in the third quarter, HoldingsChannel reports. The firm owned 12,325 shares of the company’s stock after selling 11,246 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Snowflake were worth $1,416,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SNOW. RPG Investment Advisory LLC boosted its position in Snowflake by 85.0% during the 3rd quarter. RPG Investment Advisory LLC now owns 23,749 shares of the company’s stock worth $2,728,000 after acquiring an additional 10,913 shares during the period. Victory Capital Management Inc. boosted its position in Snowflake by 49.7% during the 3rd quarter. Victory Capital Management Inc. now owns 420,088 shares of the company’s stock worth $48,251,000 after acquiring an additional 139,459 shares during the period. American Assets Inc. acquired a new stake in Snowflake during the 3rd quarter worth about $459,000. Aigen Investment Management LP acquired a new stake in Snowflake during the 3rd quarter worth about $838,000. Finally, Ashton Thomas Private Wealth LLC boosted its position in Snowflake by 19.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 11,307 shares of the company’s stock worth $1,299,000 after acquiring an additional 1,848 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent research reports. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Canaccord Genuity Group cut their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 price target on shares of Snowflake in a research note on Wednesday, October 2nd. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $172.09.

Snowflake Stock Performance

Snowflake stock opened at $125.96 on Monday. The firm has a market cap of $42.22 billion, a P/E ratio of -41.16 and a beta of 0.83. The business’s fifty day moving average is $116.73 and its two-hundred day moving average is $128.30. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72.

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

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $23,877,196.65. This represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock worth $7,061,544 over the last 90 days. 7.80% of the stock is owned by 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.