Strs Ohio Sells 2,239 Shares of Snowflake Inc. (NYSE:SNOW)

Strs Ohio decreased its stake in Snowflake Inc. (NYSE:SNOW) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,278 shares of the company’s stock after selling 2,239 shares during the period. Strs Ohio’s holdings in Snowflake were worth $16,771,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ulland Investment Advisors LLC grew its holdings in shares of Snowflake by 270.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 185 shares of the company’s stock valued at $28,000 after acquiring an additional 135 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Snowflake by 333.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Provence Wealth Management Group bought a new position in shares of Snowflake in the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Snowflake by 54.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNOW. Piper Sandler reiterated an “overweight” rating and issued a $250.00 target price on shares of Snowflake in a research note on Tuesday, February 27th. JMP Securities raised their target price on shares of Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. Barclays cut their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (down from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Finally, Needham & Company LLC cut their target price on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Insider Activity at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at $4,457,133.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sridhar Ramaswamy bought 31,542 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the purchase, the chief executive officer now owns 31,542 shares in the company, valued at approximately $5,000,037.84. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.98, for a total transaction of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The disclosure for this sale can be found here. Insiders have sold 179,055 shares of company stock valued at $36,633,917 over the last three months. 8.30% of the stock is owned by insiders.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $150.28 on Wednesday. The company’s 50 day simple moving average is $182.44 and its 200 day simple moving average is $179.47. The stock has a market capitalization of $50.22 billion, a price-to-earnings ratio of -58.93 and a beta of 0.91. Snowflake Inc. has a 1 year low of $135.26 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, analysts anticipate that Snowflake Inc. will post -1.92 EPS for the current fiscal year.

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.