OMERS ADMINISTRATION Corp Reduces Stake in Snowflake Inc. (NYSE:SNOW)

OMERS ADMINISTRATION Corp cut its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 28.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,581 shares of the company's stock after selling 7,885 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Snowflake were worth $3,024,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC lifted its stake in shares of Snowflake by 27.2% in the fourth quarter. Capital Investment Advisors LLC now owns 2,567 shares of the company's stock worth $396,000 after acquiring an additional 549 shares during the period. Claro Advisors LLC acquired a new position in shares of Snowflake in the fourth quarter worth approximately $231,000. Pallas Capital Advisors LLC lifted its stake in shares of Snowflake by 83.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,990 shares of the company's stock worth $771,000 after acquiring an additional 2,271 shares during the period. Breakwater Capital Group lifted its stake in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after acquiring an additional 62 shares during the period. Finally, Ignite Planners LLC lifted its stake in shares of Snowflake by 5.3% in the fourth quarter. Ignite Planners LLC now owns 2,797 shares of the company's stock worth $454,000 after acquiring an additional 141 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. This represents a 50.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at $102,186,956.25. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,963 shares of company stock valued at $58,204,058. Insiders own 7.80% of the company's stock.

Snowflake Stock Performance

SNOW stock traded up $0.04 during midday trading on Friday, hitting $183.01. The company's stock had a trading volume of 3,414,758 shares, compared to its average volume of 6,416,944. The stock's 50-day moving average price is $155.65 and its 200 day moving average price is $161.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a market cap of $60.41 billion, a price-to-earnings ratio of -53.98 and a beta of 1.11.

Analysts Set New Price Targets

A number of equities analysts recently commented on SNOW shares. Stifel Nicolaus lifted their price objective on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Oppenheimer lifted their target price on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. StockNews.com upgraded Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Wells Fargo & Company lowered their target price on Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada lifted their target price on Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $200.28.

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.