California Public Employees Retirement System Sells 1,149 Shares of Snowflake Inc. (NYSE:SNOW)

California Public Employees Retirement System cut its stake in shares of Snowflake Inc. (NYSE:SNOW) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 567,130 shares of the company’s stock after selling 1,149 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Snowflake worth $112,859,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ulland Investment Advisors LLC lifted its holdings in Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock worth $28,000 after purchasing an additional 135 shares in the last quarter. Provence Wealth Management Group purchased a new stake in shares of Snowflake during the 3rd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock worth $31,000 after acquiring an additional 72 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Snowflake by 89.0% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares in the last quarter. Finally, M&R Capital Management Inc. raised its holdings in shares of Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 2.7 %

SNOW opened at $151.17 on Wednesday. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72. The business’s fifty day simple moving average is $174.58 and its 200-day simple moving average is $179.32. The company 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 issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. On average, equities research analysts predict that Snowflake Inc. will post -1.9 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SNOW shares. Wedbush upped their price objective on Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. UBS Group upped their price objective on Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Bank of America cut their target price on Snowflake from $265.00 to $212.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Morgan Stanley reissued an “equal weight” rating and set a $175.00 target price (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut their target price on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $202.00.

Insider Activity at Snowflake

In related news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s 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 sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the senior vice president now directly owns 736,567 shares of the company’s stock, valued at approximately $162,044,740. The disclosure for this sale can be found here. Insiders have sold a total of 168,209 shares of company stock valued at $34,291,592 over the last quarter. 8.30% 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.