Public Employees Retirement System of Ohio Lowers Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Public Employees Retirement System of Ohio decreased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,448 shares of the company's stock after selling 6,639 shares during the period. Public Employees Retirement System of Ohio's holdings in Snowflake were worth $20,760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SNOW. Norges Bank bought a new position in Snowflake in the 4th quarter worth approximately $988,950,000. GQG Partners LLC purchased a new stake in shares of Snowflake during the fourth quarter worth $750,572,000. Jennison Associates LLC boosted its holdings in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. FMR LLC grew its position in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after purchasing an additional 2,200,406 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Down 1.0%

Snowflake stock traded down $2.00 during trading hours on Thursday, hitting $202.40. The stock had a trading volume of 3,794,614 shares, compared to its average volume of 6,467,778. The stock has a market capitalization of $66.81 billion, a P/E ratio of -59.70 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average price is $161.99 and its 200-day moving average price is $165.25. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $209.80.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.14 earnings per share. The company's revenue was up 25.8% on a year-over-year basis. Equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SNOW. Wall Street Zen upgraded Snowflake from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Daiwa Capital Markets initiated coverage on shares of Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Wells Fargo & Company reiterated an "overweight" rating and issued a $225.00 price objective (up previously from $200.00) on shares of Snowflake in a research report on Thursday, May 22nd. Finally, KeyCorp reduced their target price on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.33.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 5,027 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $8,083,428.48. This represents a 11.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 849,779 shares of company stock worth $158,838,193 over the last quarter. Company insiders own 7.80% of the company's stock.

Snowflake Company 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.