Kentucky Retirement Systems Invests $3.12 Million in Snowflake Inc. (NYSE:SNOW)

Kentucky Retirement Systems purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,321 shares of the company's stock, valued at approximately $3,116,000.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Snowflake during the first quarter worth about $26,000. CVA Family Office LLC raised its position in shares of Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Macquarie increased their price objective on Snowflake from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. DA Davidson reiterated a "buy" rating and set a $250.00 price objective on shares of Snowflake in a report on Wednesday, June 4th. Loop Capital increased their price objective on Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Morgan Stanley reiterated an "equal weight" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, Monness Crespi & Hardt increased their price objective on Snowflake from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $223.54.

Insider Buying and Selling at Snowflake

In other news, CAO Emily Ho sold 5,027 shares of Snowflake stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $199.06, for a total value of $1,000,674.62. Following the transaction, the chief accounting officer now owns 40,608 shares in the company, valued at approximately $8,083,428.48. This trade represents a 11.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 894,638 shares of company stock valued at $169,965,038 in the last three months. Corporate insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $211.84 on Monday. The stock has a market capitalization of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The business has a fifty day moving average price of $183.12 and a two-hundred day moving average price of $171.86. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $215.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. As a group, equities analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

About Snowflake

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.

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