California Public Employees Retirement System Purchases 33,070 Shares of Snowflake Inc. $SNOW

California Public Employees Retirement System boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,218 shares of the company’s stock after acquiring an additional 33,070 shares during the quarter. California Public Employees Retirement System’s holdings in Snowflake were worth $112,381,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SNOW. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in Snowflake by 3.4% in the 1st quarter. Atria Wealth Solutions Inc. now owns 13,427 shares of the company’s stock worth $1,962,000 after buying an additional 447 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Snowflake by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,394,792 shares of the company’s stock worth $203,863,000 after buying an additional 64,268 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Snowflake by 14.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 304,516 shares of the company’s stock worth $44,508,000 after buying an additional 37,340 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in Snowflake by 31.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 3,497 shares of the company’s stock valued at $511,000 after acquiring an additional 843 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Down 2.3%

Shares of SNOW stock opened at $229.42 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $77.73 billion, a price-to-earnings ratio of -56.79 and a beta of 1.09. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The firm has a fifty day moving average price of $251.34 and a 200-day moving average price of $226.88.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative return on equity of 43.84% and a negative net margin of 30.76%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm earned $0.20 EPS. Snowflake’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Wednesday, November 26th. Robert W. Baird lifted their target price on shares of Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Snowflake from $225.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, Raymond James Financial lifted their price objective on Snowflake from $212.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.05.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $223.88, for a total transaction of $2,238,800.00. Following the sale, the executive vice president owned 532,450 shares in the company, valued at approximately $119,204,906. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 7,551 shares of Snowflake stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the transaction, the director directly owned 153,226 shares in the company, valued at $33,899,720.24. This represents a 4.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 170,564 shares of company stock worth $41,676,989 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.