Snowflake Inc. (NYSE:SNOW) Stock Holdings Lowered by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its position in Snowflake Inc. (NYSE:SNOW) by 28.7% during the 4th quarter, according to the company in its most recent filing with the Securities & 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Jennison Associates LLC increased its position in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. Norges Bank bought a new position in shares of Snowflake in the fourth quarter worth $988,950,000. FMR LLC raised its stake in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Snowflake during the fourth quarter valued at about $750,572,000. Finally, Geode Capital Management LLC lifted its holdings in Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company’s stock worth $642,742,000 after purchasing an additional 15,314 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the transaction, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62% decrease in their ownership of the stock. 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. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Down 0.4%

Shares of Snowflake stock opened at $180.37 on Thursday. The firm has a market cap of $59.54 billion, a price-to-earnings ratio of -53.21 and a beta of 1.11. The stock has a 50-day simple moving average of $154.28 and a 200-day simple moving average of $160.13. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $183.00 target price on shares of Snowflake in a research note on Wednesday, April 2nd. Macquarie assumed coverage on shares of Snowflake in a research note on Wednesday, April 2nd. They set a “neutral” rating and a $160.00 price objective on the stock. Bank of America upped their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Canaccord Genuity Group lifted their price target on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Rosenblatt Securities upped their price objective on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.28.

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.