Oppenheimer Asset Management Inc. Buys 7,062 Shares of Snowflake Inc. (NYSE:SNOW)

Oppenheimer Asset Management Inc. lifted its position in Snowflake Inc. (NYSE:SNOW) by 51.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 20,733 shares of the company’s stock after purchasing an additional 7,062 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Snowflake were worth $3,030,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. ORG Wealth Partners LLC bought a new stake in Snowflake during the first quarter worth about $898,000. Kirtland Hills Capital Management LLC boosted its holdings in shares of Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock worth $2,458,000 after acquiring an additional 4,559 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Snowflake by 455.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company’s stock worth $19,174,000 after acquiring an additional 101,806 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Snowflake during the 4th quarter valued at $3,088,000. Finally, GraniteShares Advisors LLC acquired a new stake in Snowflake during the 4th quarter valued at $781,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock opened at $221.79 on Thursday. The stock’s fifty day simple moving average is $187.55 and its 200 day simple moving average is $172.77. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $74.05 billion, a PE ratio of -52.68 and a beta of 1.21. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $225.68.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Snowflake’s revenue was up 25.8% compared to the same quarter last year. On average, research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $160.00, for a total value of $1,600,000.00. Following the transaction, the executive vice president now owns 590,632 shares of the company’s stock, valued at approximately $94,501,120. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 597,248 shares of company stock worth $121,549,799. Company insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNOW. Robert W. Baird increased their target price on Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Daiwa America upgraded shares of Snowflake to a “strong-buy” rating in a research report on Tuesday, April 1st. KeyCorp lowered their price objective on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 target price (up from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Finally, Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $225.22.

Snowflake Company Profile

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.