Snowflake Inc. (NYSE:SNOW) Holdings Raised by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 57.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,282 shares of the company’s stock after acquiring an additional 1,563 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Snowflake were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Snowflake by 9.0% during the fourth quarter. BlackRock Inc. now owns 9,628,036 shares of the company’s stock valued at $3,261,497,000 after purchasing an additional 798,353 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Snowflake by 39.2% during the fourth quarter. Capital Research Global Investors now owns 6,816,310 shares of the company’s stock valued at $2,309,039,000 after purchasing an additional 1,919,350 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Snowflake by 11.8% during the first quarter. Baillie Gifford & Co. now owns 4,468,293 shares of the company’s stock valued at $1,023,820,000 after purchasing an additional 472,014 shares in the last quarter. State Street Corp raised its position in Snowflake by 7.1% in the fourth quarter. State Street Corp now owns 4,378,993 shares of the company’s stock worth $1,483,384,000 after acquiring an additional 290,111 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Snowflake by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 2,217,733 shares of the company’s stock worth $749,895,000 after acquiring an additional 206,547 shares in the last quarter. 66.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Redburn Partners assumed coverage on shares of Snowflake in a research report on Wednesday, June 29th. They issued a “neutral” rating and a $125.00 price target on the stock. JMP Securities boosted their price target on shares of Snowflake from $180.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 25th. Barclays dropped their price target on shares of Snowflake from $210.00 to $207.00 and set an “overweight” rating on the stock in a research report on Thursday, August 25th. Oppenheimer boosted their price target on shares of Snowflake from $200.00 to $230.00 in a research report on Thursday, August 25th. Finally, Cowen boosted their price objective on Snowflake from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.24.

Insider Activity

In other news, Director Teresa Briggs sold 1,224 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $195.73, for a total transaction of $239,573.52. Following the transaction, the director now owns 2,217 shares in the company, valued at approximately $433,933.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Frank Slootman sold 1,727 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $136.18, for a total transaction of $235,182.86. Following the transaction, the chief executive officer now owns 138,551 shares in the company, valued at approximately $18,867,875.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 1,224 shares of Snowflake stock in a transaction on Friday, August 26th. The stock was sold at an average price of $195.73, for a total transaction of $239,573.52. Following the completion of the transaction, the director now owns 2,217 shares in the company, valued at approximately $433,933.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,902 shares of company stock worth $764,018. 8.90% of the stock is owned by corporate insiders.

Snowflake Trading Down 1.0 %

Snowflake stock opened at $171.49 on Friday. The company has a market capitalization of $53.95 billion, a P/E ratio of -79.03 and a beta of 1.30. The firm’s fifty day simple moving average is $156.92 and its 200-day simple moving average is $176.86. Snowflake Inc. has a 1-year low of $110.26 and a 1-year high of $405.00.

Snowflake Company Profile

(Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

Further Reading

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOWGet Rating).

Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.