Public Employees Retirement Association of Colorado Buys 1,560 Shares of Snowflake Inc. (NYSE:SNOW)

Public Employees Retirement Association of Colorado raised its position in shares of Snowflake Inc. (NYSE:SNOW) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,872 shares of the company’s stock after acquiring an additional 1,560 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Snowflake were worth $5,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. Accent Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter worth approximately $25,000. LRI Investments LLC lifted its position in shares of Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake during the second quarter valued at $27,000. Riverview Trust Co bought a new position in shares of Snowflake in the first quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Snowflake in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Emily Ho sold 3,845 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $130.39, for a total transaction of $501,349.55. Following the sale, the chief accounting officer now directly owns 30,613 shares of the company’s stock, valued at $3,991,629.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,203 shares of company stock valued at $63,833,373. Company insiders own 7.80% of the company’s stock.

Snowflake Stock Down 3.3 %

Shares of NYSE SNOW opened at $110.27 on Monday. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a market cap of $36.96 billion, a P/E ratio of -39.38 and a beta of 0.83. The business’s 50 day moving average price is $120.87 and its 200 day moving average price is $139.36.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.52) earnings per share. As a group, research analysts expect that Snowflake Inc. will post -2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. DA Davidson lowered their price objective on shares of Snowflake from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Robert W. Baird dropped their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price on shares of Snowflake in a research report on Thursday, August 22nd. UBS Group dropped their price target on Snowflake from $171.00 to $155.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Finally, Loop Capital decreased their price objective on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

Snowflake Company 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.