Public Employees Retirement Association of Colorado Acquires 6,141 Shares of Snowflake Inc. (NYSE:SNOW)

Public Employees Retirement Association of Colorado boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,326 shares of the company’s stock after buying an additional 6,141 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Snowflake were worth $7,625,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNOW. BlackRock Inc. lifted its holdings in Snowflake by 3.1% during the first quarter. BlackRock Inc. now owns 13,414,226 shares of the company’s stock valued at $2,069,681,000 after purchasing an additional 400,044 shares in the last quarter. Jennison Associates LLC lifted its holdings in Snowflake by 19.5% during the second quarter. Jennison Associates LLC now owns 7,399,711 shares of the company’s stock valued at $1,302,201,000 after purchasing an additional 1,206,014 shares in the last quarter. State Street Corp lifted its holdings in Snowflake by 3.0% during the first quarter. State Street Corp now owns 5,782,936 shares of the company’s stock valued at $892,229,000 after purchasing an additional 165,875 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Snowflake by 48,395.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,467,899 shares of the company’s stock worth $786,261,000 after buying an additional 4,458,686 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Snowflake by 7.9% in the first quarter. FMR LLC now owns 3,420,395 shares of the company’s stock worth $527,733,000 after buying an additional 251,486 shares in the last quarter. 63.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several research analyst reports. DA Davidson initiated coverage on shares of Snowflake in a report on Thursday, September 7th. They issued a “buy” rating and a $200.00 target price on the stock. Capital One Financial raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $195.00 target price on the stock in a report on Wednesday, November 8th. Citigroup boosted their target price on shares of Snowflake from $189.00 to $191.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Oppenheimer reissued an “outperform” rating and issued a $220.00 target price on shares of Snowflake in a report on Thursday, August 24th. Finally, StockNews.com assumed coverage on shares of Snowflake in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $189.52.

Insider Buying and Selling

In related news, insider Benoit Dageville sold 13,740 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $166.27, for a total value of $2,284,549.80. Following the completion of the sale, the insider now directly owns 40,847 shares of the company’s stock, valued at $6,791,630.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Snowflake news, SVP Grzegorz Czajkowski sold 694 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $166.27, for a total transaction of $115,391.38. Following the completion of the sale, the senior vice president now directly owns 54,701 shares of the company’s stock, valued at $9,095,135.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Benoit Dageville sold 13,740 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $166.27, for a total transaction of $2,284,549.80. Following the sale, the insider now directly owns 40,847 shares of the company’s stock, valued at $6,791,630.69. The disclosure for this sale can be found here. Insiders sold a total of 92,024 shares of company stock valued at $14,649,994 over the last three months. 8.30% of the stock is owned by company insiders.

Snowflake Trading Up 4.5 %

NYSE SNOW opened at $165.86 on Wednesday. The company’s 50-day moving average price is $154.75 and its 200-day moving average price is $163.04. The stock has a market cap of $54.68 billion, a PE ratio of -62.35 and a beta of 0.77. Snowflake Inc. has a 12 month low of $119.27 and a 12 month high of $193.94.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 23rd. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.12. The firm had revenue of $674.00 million for the quarter, compared to analysts’ expectations of $662.22 million. Snowflake had a negative net margin of 35.22% and a negative return on equity of 14.07%. The business’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.67) earnings per share. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.62 earnings per share for the current year.

Snowflake 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.