Snowflake Inc. $SNOW Shares Purchased by Strs Ohio

Strs Ohio lifted its stake in Snowflake Inc. (NYSE:SNOW) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 338,769 shares of the company’s stock after acquiring an additional 11,365 shares during the period. Strs Ohio’s holdings in Snowflake were worth $51,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of Snowflake by 90.0% during the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. Intech Investment Management LLC increased its position in shares of Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after acquiring an additional 2,167 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Flow Traders U.S. LLC purchased a new position in Snowflake in the 2nd quarter worth $221,000. Finally, The Manufacturers Life Insurance Company lifted its position in Snowflake by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after acquiring an additional 1,521 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE:SNOW opened at $259.67 on Friday. The firm’s fifty day moving average is $200.69 and its two-hundred day moving average is $189.97. The firm has a market cap of $90.00 billion, a price-to-earnings ratio of -73.77 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company’s revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. Research analysts expect that Snowflake Inc. will post -1.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley boosted their price target on Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Canaccord Genuity Group lifted their target price on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Royal Bank Of Canada upped their target price on Snowflake from $220.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Finally, Cantor Fitzgerald increased their price target on shares of Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $293.53.

Insider Activity

In related news, CRO Jonathan Mead Beaulier sold 9,367 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $231.98, for a total transaction of $2,172,956.66. Following the sale, the executive directly owned 234,791 shares of the company’s stock, valued at $54,466,816.18. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Vivek Raghunathan sold 3,876 shares of Snowflake stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total value of $930,240.00. Following the transaction, the senior vice president owned 258,689 shares of the company’s stock, valued at approximately $62,085,360. This represents a 1.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,798,828 shares of company stock valued at $415,351,838 over the last 90 days. Company insiders own 4.80% of the company’s stock.

Snowflake Company Profile

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.