Snowflake Inc. (NYSE:SNOW) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Snowflake Inc. (NYSE:SNOW) by 86.7% in the 4th quarter, Holdings Channel reports. The firm owned 4,195 shares of the company’s stock after selling 27,420 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Snowflake were worth $666,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. OneDigital Investment Advisors LLC grew its holdings in Snowflake by 24.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,154 shares of the company’s stock valued at $362,000 after buying an additional 614 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Snowflake by 4.9% in the 3rd quarter. CIBC Asset Management Inc now owns 11,705 shares of the company’s stock valued at $1,344,000 after buying an additional 544 shares in the last quarter. Empowered Funds LLC grew its holdings in Snowflake by 8.8% in the 3rd quarter. Empowered Funds LLC now owns 6,013 shares of the company’s stock valued at $691,000 after buying an additional 487 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Snowflake in the 3rd quarter valued at $1,292,000. Finally, Prospera Private Wealth LLC purchased a new stake in Snowflake in the 3rd quarter valued at $146,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNOW has been the subject of several analyst reports. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Monness Crespi & Hardt increased their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Jefferies Financial Group increased their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Finally, Royal Bank of Canada increased their price target on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $205.08.

Snowflake Price Performance

Shares of NYSE SNOW opened at $157.23 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market capitalization of $51.90 billion, a PE ratio of -46.38 and a beta of 1.07. The stock’s 50-day simple moving average is $172.83 and its 200-day simple moving average is $149.04.

Insider Buying and Selling

In related news, Director Frank Slootman sold 7,016 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the transaction, the director now owns 182,999 shares in the company, valued at $28,491,114.31. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 3,765 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $586,172.85. Following the transaction, the executive vice president now owns 616,602 shares in the company, valued at $95,998,765.38. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 298,429 shares of company stock worth $50,065,812 in the last quarter. 7.80% of the stock is owned by insiders.

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.