OFI Invest Asset Management Invests $408,000 in Snowflake Inc. (NYSE:SNOW)

OFI Invest Asset Management acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,737 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds have also made changes to their positions in SNOW. Groupama Asset Managment acquired a new stake in shares of Snowflake during the third quarter worth $25,000. Stonebridge Financial Group LLC acquired a new position in Snowflake in the fourth quarter valued at $29,000. Blue Bell Private Wealth Management LLC boosted its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Snowflake in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $158.54 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $173.79 and a two-hundred day moving average of $147.09. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a market cap of $52.33 billion, a P/E ratio of -46.77 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SNOW. TD Cowen lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. UBS Group lifted their target price on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Monness Crespi & Hardt lifted their target price on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, KeyCorp raised their price objective on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 297,193 shares of company stock worth $50,096,313 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Snowflake 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.