Strs Ohio Buys 180,333 Shares of Snowflake Inc. $SNOW

Strs Ohio grew its stake in Snowflake Inc. (NYSE:SNOW) by 258.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 250,180 shares of the company’s stock after acquiring an additional 180,333 shares during the quarter. Strs Ohio owned 0.07% of Snowflake worth $55,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SNOW. Vanguard Group Inc. boosted its stake in Snowflake by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after purchasing an additional 316,573 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake in the second quarter worth about $3,900,134,000. Jennison Associates LLC raised its holdings in Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock worth $691,693,000 after buying an additional 763,673 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Snowflake during the first quarter valued at approximately $555,847,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNOW shares. Canaccord Genuity Group upped their price objective on Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Jefferies Financial Group lifted their price objective on Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Raymond James Financial upped their target price on shares of Snowflake from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Bank of America upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $220.00 to $240.00 in a research note on Wednesday, August 20th. Finally, UBS Group increased their price objective on shares of Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.95.

Snowflake Stock Up 1.1%

SNOW opened at $269.93 on Thursday. The firm’s 50 day simple moving average is $232.15 and its two-hundred day simple moving average is $208.90. The company has a market capitalization of $91.45 billion, a PE ratio of -65.04 and a beta of 1.21. Snowflake Inc. has a 1-year low of $113.23 and a 1-year high of $272.39. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.Snowflake’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 EPS. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president directly owned 527,336 shares in the company, valued at approximately $123,132,956. The trade was a 1.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total transaction of $2,634,219.22. Following the sale, the senior vice president owned 241,854 shares in the company, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 926,388 shares of company stock worth $212,119,812 over the last ninety days. 6.80% of the stock is owned by corporate 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.