Police & Firemen s Retirement System of New Jersey Acquires 2,071 Shares of Snowflake Inc. $SNOW

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 4.6% in the second quarter, HoldingsChannel reports. The firm owned 47,448 shares of the company’s stock after purchasing an additional 2,071 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Snowflake were worth $10,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Advantage Inc. lifted its stake in shares of Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after buying an additional 48 shares during the last quarter. Wedbush Securities Inc. raised its holdings in Snowflake by 1.3% in the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares during the period. Avion Wealth raised its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after acquiring an additional 49 shares during the period. Advyzon Investment Management LLC boosted its holdings in shares of Snowflake by 3.8% during the second quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock worth $340,000 after acquiring an additional 55 shares during the period. Finally, Ignite Planners LLC boosted its holdings in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after acquiring an additional 64 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent research reports. Stephens initiated coverage on Snowflake in a research note on Friday, July 18th. They set an “overweight” rating and a $261.00 target price on the stock. Stifel Nicolaus increased their price objective on Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, August 28th. Jefferies Financial Group upped their price target on shares of Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $259.89.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $224.85, for a total transaction of $11,318,499.30. Following the completion of the sale, the director directly owned 35,276 shares in the company, valued at $7,931,808.60. This represents a 58.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 710,083 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total value of $163,652,829.01. Following the completion of the sale, the director directly owned 165,507 shares in the company, valued at $38,144,398.29. This trade represents a 81.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 931,388 shares of company stock worth $216,578,628 over the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $257.15 on Friday. The company’s 50-day moving average price is $243.42 and its two-hundred day moving average price is $217.75. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The firm has a market cap of $87.12 billion, a P/E ratio of -61.96 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.