Oppenheimer & Co. Inc. Has $4 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Oppenheimer & Co. Inc. increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 59.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,851 shares of the company’s stock after purchasing an additional 13,053 shares during the period. Oppenheimer & Co. Inc.’s holdings in Snowflake were worth $4,003,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Snowflake by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after buying an additional 297,428 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after acquiring an additional 223,936 shares during the period. Swedbank AB bought a new position in Snowflake during the first quarter worth $258,957,000. Bank of New York Mellon Corp grew its holdings in Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after purchasing an additional 8,743 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Snowflake by 90.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after purchasing an additional 600,469 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

Shares of SNOW stock opened at $125.92 on Friday. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72. The company’s fifty day simple moving average is $116.73 and its two-hundred day simple moving average is $128.68. The stock has a market capitalization of $42.21 billion, a price-to-earnings ratio of -41.15 and a beta of 0.83.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SNOW shares. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday. DA Davidson reissued a “buy” rating and issued a $175.00 price target on shares of Snowflake in a research report on Thursday, October 3rd. Wedbush upgraded shares of Snowflake to a “hold” rating in a report on Thursday, October 17th. TD Cowen reduced their price objective on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 19th. Finally, Bank of America lowered their target price on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $172.09.

Insider Activity

In related news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was 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 in the company, valued at $83,511,651.08. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,538 shares of company stock worth $7,061,544 over the last ninety days. Company insiders own 7.80% of the company’s stock.

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.