Snowflake Inc. $SNOW Stock Position Increased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 85.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,675 shares of the company’s stock after buying an additional 26,087 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Snowflake were worth $12,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coastline Trust Co grew its stake in shares of Snowflake by 1.0% in the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock worth $943,000 after purchasing an additional 42 shares during the last quarter. Capital Advantage Inc. boosted its position in Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares during the period. Wedbush Securities Inc. grew its stake in Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares in the last quarter. Avion Wealth increased its holdings in shares of Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 49 shares during the period. Finally, CX Institutional increased its holdings in shares of Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company’s stock valued at $95,000 after purchasing an additional 49 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $221.16, for a total transaction of $89,127.48. Following the transaction, the director directly owned 24,121 shares in the company, valued at $5,334,600.36. The trade was a 1.64% 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, CAO Emily Ho sold 1,072 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $223.63, for a total value of $239,731.36. Following the completion of the sale, the chief accounting officer owned 43,809 shares of the company’s stock, valued at $9,797,006.67. This represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 418,681 shares of company stock valued at $96,073,145 over the last quarter. Company insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SNOW. BTIG Research reaffirmed a “buy” rating and set a $312.00 price objective on shares of Snowflake in a research report on Thursday, December 4th. Evercore ISI boosted their price target on shares of Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. DA Davidson reiterated a “buy” rating and set a $300.00 price objective on shares of Snowflake in a report on Monday, December 1st. Deutsche Bank Aktiengesellschaft upped their price target on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $275.58.

Snowflake Price Performance

NYSE:SNOW opened at $206.12 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.37 and a quick ratio of 1.37. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The company has a fifty day moving average price of $235.26 and a 200 day moving average price of $228.89. The stock has a market cap of $70.53 billion, a P/E ratio of -51.02 and a beta of 1.14.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.