Strs Ohio Lowers Position in Snowflake Inc. (NYSE:SNOW)

Strs Ohio lessened its stake in Snowflake Inc. (NYSE:SNOW) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 84,278 shares of the company’s stock after selling 2,239 shares during the quarter. Strs Ohio’s holdings in Snowflake were worth $16,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SNOW. Cigna Investments Inc. New lifted its position in Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares during the last quarter. E&G Advisors LP lifted its position in Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares during the last quarter. Valley National Advisers Inc. lifted its position in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after purchasing an additional 53 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Snowflake by 5.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock worth $220,000 after acquiring an additional 61 shares during the last quarter. Finally, Kingfisher Capital LLC lifted its holdings in shares of Snowflake by 0.4% in the 3rd quarter. Kingfisher Capital LLC now owns 14,745 shares of the company’s stock worth $2,253,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent analyst reports. JMP Securities raised their price target on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 29th. Monness Crespi & Hardt raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Monday, March 18th. UBS Group raised their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Needham & Company LLC reduced their price target on shares of Snowflake from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Barclays cut their target price on shares of Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Trading Down 1.1 %

Shares of NYSE SNOW opened at $150.28 on Wednesday. Snowflake Inc. has a 12 month low of $135.26 and a 12 month high of $237.72. The company has a 50 day simple moving average of $182.44 and a two-hundred day simple moving average of $179.47. The stock has a market cap of $50.22 billion, a price-to-earnings ratio of -58.93 and a beta of 0.91.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now directly owns 86,208 shares in the company, valued at approximately $13,915,695.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Benoit Dageville sold 8,515 shares of Snowflake stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.25, for a total transaction of $1,330,468.75. Following the completion of the transaction, the insider now directly owns 55,216 shares of the company’s stock, valued at approximately $8,627,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,055 shares of company stock worth $36,633,917. Company insiders own 8.30% 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.