113,381 Shares in Snowflake Inc. $SNOW Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 113,381 shares of the company’s stock, valued at approximately $28,855,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNOW. Brighton Jones LLC lifted its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its stake in Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares during the period. Geneos Wealth Management Inc. grew its stake in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the period. Flow Traders U.S. LLC acquired a new stake in shares of Snowflake in the second quarter worth $221,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after acquiring an additional 1,521 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNOW. Barclays upped their price target on shares of Snowflake from $285.00 to $332.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Benchmark upped their target price on Snowflake from $290.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen upped their target price on Snowflake from $300.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, Piper Sandler increased their target price on Snowflake from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $328.14.

Snowflake Price Performance

SNOW opened at $327.08 on Friday. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $341.95. The firm has a market cap of $113.37 billion, a price-to-earnings ratio of -92.92 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $287.74 and a 200 day simple moving average of $215.01.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. Equities research analysts expect that Snowflake Inc. will post -1.81 EPS for the current fiscal year.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 48,990 shares of Snowflake stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $320.78, for a total transaction of $15,715,012.20. Following the sale, the director directly owned 28,535 shares of the company’s stock, valued at approximately $9,153,457.30. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the completion of the transaction, the executive vice president owned 340,379 shares in the company, valued at approximately $110,623,175. This trade represents a 6.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,329,825 shares of company stock valued at $367,408,410. 4.80% of the stock is currently owned by insiders.

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.