Public Employees Retirement System of Ohio Sells 10,804 Shares of Snowflake Inc. (NYSE:SNOW)

Public Employees Retirement System of Ohio decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 147,940 shares of the company’s stock after selling 10,804 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Snowflake were worth $23,907,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Carroll Investors Inc increased its stake in shares of Snowflake by 1.7% in the 1st quarter. Carroll Investors Inc now owns 72,683 shares of the company’s stock valued at $11,740,000 after buying an additional 1,186 shares during the period. Manhattan West Asset Management LLC increased its stake in shares of Snowflake by 16.7% in the 1st quarter. Manhattan West Asset Management LLC now owns 10,660 shares of the company’s stock valued at $1,723,000 after buying an additional 1,525 shares during the period. BOKF NA increased its stake in shares of Snowflake by 1,424.9% in the 1st quarter. BOKF NA now owns 7,960 shares of the company’s stock valued at $1,278,000 after buying an additional 7,438 shares during the period. Lazard Asset Management LLC increased its stake in shares of Snowflake by 4,766.3% in the 1st quarter. Lazard Asset Management LLC now owns 443,660 shares of the company’s stock valued at $71,695,000 after buying an additional 434,543 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at $29,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

SNOW traded up $1.17 on Monday, hitting $130.17. 1,699,670 shares of the company were exchanged, compared to its average volume of 6,432,809. Snowflake Inc. has a 12 month low of $122.60 and a 12 month high of $237.72. The company has a market cap of $43.58 billion, a PE ratio of -45.97 and a beta of 0.85. The stock’s fifty day moving average is $136.95 and its 200-day moving average is $164.63.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The company had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. As a group, equities research analysts expect that Snowflake Inc. will post -2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Macquarie lowered their target price on Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Loop Capital lowered their target price on Snowflake from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Royal Bank of Canada lowered their target price on Snowflake from $226.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research note on Monday, July 8th. Finally, Scotiabank decreased their price objective on Snowflake from $207.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $197.31.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the transaction, the executive now owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now owns 63,222 shares of the company’s stock, valued at approximately $8,112,014.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at $55,571,598.24. The disclosure for this sale can be found here. Insiders have sold a total of 533,460 shares of company stock valued at $66,963,450 over the last 90 days. 7.80% of the stock is currently owned by insiders.

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.