OVERSEA CHINESE BANKING Corp Ltd Has $12.78 Million Position in Snowflake Inc. $SNOW

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 85.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,675 shares of the company’s stock after acquiring 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 added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new stake in shares of Snowflake in the 2nd quarter valued at approximately $25,000. Avion Wealth lifted its position in shares of Snowflake by 76.6% during the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after buying an additional 49 shares during the period. Tripletail Wealth Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at $28,000. Rossby Financial LCC grew its position in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares during the period. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Snowflake by 4,333.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.6%

Shares of NYSE SNOW opened at $206.12 on Thursday. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The firm’s 50-day moving average is $235.26 and its 200-day moving average is $228.89. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $70.53 billion, a PE ratio of -51.02 and a beta of 1.14.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on SNOW shares. Bank of America lifted their price target on shares of Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 17th. Wells Fargo & Company boosted their target price on Snowflake from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Snowflake in a report on Thursday, December 4th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Wednesday, November 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $280.00 target price on shares of Snowflake in a report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.58.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 1,072 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $223.63, for a total transaction of $239,731.36. Following the completion of the transaction, the chief accounting officer directly owned 43,809 shares in the company, valued at approximately $9,797,006.67. The trade was a 2.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the completion of the sale, the executive vice president owned 471,351 shares in the company, valued at $103,650,084.90. This represents a 2.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 418,681 shares of company stock valued at $96,073,145 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Snowflake Company Profile

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.