Public Employees Retirement System of Ohio Buys Shares of 113,381 Snowflake Inc. $SNOW

Public Employees Retirement System of Ohio bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 113,381 shares of the company's stock, valued at approximately $28,855,000.

Several other large investors have also modified their holdings of SNOW. Kemnay Advisory Services Inc. purchased a new position in Snowflake during the 4th quarter worth $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. Basecamp Wealth Advisors LLC increased its stake in shares of Snowflake by 140.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company's stock worth $30,000 after acquiring an additional 118 shares during the period. Emerald Advisers LLC increased its stake in shares of Snowflake by 95.2% during the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock worth $31,000 after acquiring an additional 100 shares during the period. Finally, MV Capital Management Inc. purchased a new position in Snowflake during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 289,685 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $274.39, for a total value of $79,486,667.15. Following the sale, the director directly owned 28,535 shares in the company, valued at $7,829,718.65. This represents a 91.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the completion of the transaction, the executive vice president owned 340,379 shares in the company, valued at approximately $110,623,175. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,329,825 shares of company stock valued at $367,408,410 over the last three months. 4.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on Snowflake from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. BTIG Research raised their price objective on shares of Snowflake from $325.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Canaccord Genuity Group upped their target price on shares of Snowflake from $240.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Wedbush increased their target price on shares of Snowflake from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Finally, Weiss Ratings cut shares of Snowflake from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, June 11th. Thirty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $328.14.

Snowflake Price Performance

Snowflake stock opened at $327.08 on Friday. The firm has a market capitalization of $113.37 billion, a PE ratio of -92.92 and a beta of 1.33. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $341.95. The firm's 50-day simple moving average is $287.74 and its 200 day simple moving average is $215.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm's revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. On average, equities research analysts predict that Snowflake Inc. will post -1.81 EPS for the current fiscal year.

About Snowflake

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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