Oppenheimer & Co. Inc. Has $3.66 Million Stake in Snowflake Inc. (NYSE:SNOW)

Oppenheimer & Co. Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 15.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,043 shares of the company's stock after acquiring an additional 3,333 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Snowflake were worth $3,660,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Snowflake during the first quarter worth $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the 4th quarter worth about $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake during the 4th quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the 4th quarter valued at about $31,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Snowflake from $210.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, May 22nd. UBS Group raised Snowflake from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $210.00 to $265.00 in a report on Wednesday, June 4th. Jefferies Financial Group boosted their price target on Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $205.00 target price on shares of Snowflake in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $225.22.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 2,610 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $209.87, for a total value of $547,760.70. Following the sale, the executive vice president now owns 557,336 shares in the company, valued at approximately $116,968,106.32. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the sale, the director now directly owns 25,972 shares of the company's stock, valued at approximately $4,363,555.72. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 597,248 shares of company stock valued at $121,549,799 in the last ninety days. 6.80% of the stock is currently owned by insiders.

Snowflake Trading Down 0.6%

Shares of SNOW stock opened at $221.79 on Thursday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $225.68. 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 quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $74.05 billion, a P/E ratio of -52.68 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, beating 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $0.14 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, sell-side analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.

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