Oppenheimer & Co. Inc. Purchases 7,389 Shares of Snowflake Inc. (NYSE:SNOW)

Oppenheimer & Co. Inc. lifted its position in Snowflake Inc. (NYSE:SNOW) by 51.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,798 shares of the company’s stock after acquiring an additional 7,389 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Snowflake were worth $2,945,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Accent Capital Management LLC bought a new stake in Snowflake during the 4th quarter valued at about $25,000. LRI Investments LLC bought a new stake in Snowflake during the 1st quarter valued at about $29,000. FinTrust Capital Advisors LLC lifted its holdings in Snowflake by 193.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Riverview Trust Co bought a new stake in Snowflake during the 1st quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Snowflake during the 1st quarter valued at about $32,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 0.6 %

Shares of NYSE SNOW opened at $113.67 on Monday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a 50 day simple moving average of $123.48 and a two-hundred day simple moving average of $141.48. The stock has a market cap of $38.10 billion, a price-to-earnings ratio of -40.60 and a beta of 0.83.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million during the quarter, compared to analysts’ expectations of $851.72 million. During the same period in the previous year, the business posted ($0.52) EPS. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. Analysts forecast that Snowflake Inc. will post -2.42 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on SNOW shares. Sanford C. Bernstein raised their target price on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Loop Capital cut their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Evercore ISI cut their target price on shares of Snowflake from $225.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, Wedbush cut their target price on shares of Snowflake from $210.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Insider Activity at Snowflake

In related news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Teresa Briggs sold 848 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares in the company, valued at approximately $607,236.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Benoit Dageville sold 1,295 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $125.19, for a total transaction of $162,121.05. Following the completion of the transaction, the insider now owns 58,791 shares of the company’s stock, valued at $7,360,045.29. The disclosure for this sale can be found here. Insiders sold a total of 512,262 shares of company stock worth $63,340,261 in the last three months. 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.