Snowflake Inc. (NYSE:SNOW) Stake Lowered by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 0.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 567,130 shares of the company’s stock after selling 1,149 shares during the period. California Public Employees Retirement System’s holdings in Snowflake were worth $112,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ulland Investment Advisors LLC boosted its position in shares of Snowflake by 270.0% during the third quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after buying an additional 135 shares during the period. Provence Wealth Management Group acquired a new position in shares of Snowflake during the third quarter worth approximately $30,000. M&R Capital Management Inc. boosted its position in shares of Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after buying an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. lifted its position in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at approximately $13,915,695.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,209 shares of company stock worth $34,291,592. Company insiders own 8.30% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $151.17 on Wednesday. Snowflake Inc. has a 52-week low of $135.26 and a 52-week high of $237.72. The company has a 50-day moving average of $174.58 and a two-hundred day moving average of $179.32. The stock has a market capitalization of $50.52 billion, a price-to-earnings ratio of -59.28 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The company had revenue of $774.70 million during the quarter, compared to analysts’ expectations of $759.86 million. Equities analysts expect that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. Redburn Atlantic restated a “sell” rating and issued a $125.00 target price (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Morgan Stanley restated an “equal weight” rating and issued a $175.00 target price (down from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Rosenblatt Securities upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Friday, April 5th. UBS Group upped their price target on Snowflake from $185.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, February 22nd. Finally, Monness Crespi & Hardt raised Snowflake from a “sell” rating to a “neutral” rating in a report on Monday, March 18th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.00.

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.