California Public Employees Retirement System Trims Holdings in Snowflake Inc. (NYSE:SNOW)

California Public Employees Retirement System decreased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 9.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 371,472 shares of the company’s stock after selling 38,957 shares during the period. California Public Employees Retirement System’s holdings in Snowflake were worth $57,359,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SNOW. Toronto Dominion Bank increased its position in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after acquiring an additional 8,857 shares during the period. Bourgeon Capital Management LLC bought a new stake in Snowflake during the 4th quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC lifted its stake in Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 7,908 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the transaction, the executive vice president now directly owns 600,632 shares of the company’s stock, valued at $92,899,751.44. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 503,968 shares of company stock valued at $84,363,550. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

Shares of SNOW stock opened at $149.56 on Wednesday. The business’s 50 day moving average price is $171.02 and its 200-day moving average price is $152.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market cap of $49.37 billion, a P/E ratio of -44.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of Snowflake in a report on Tuesday. They issued a “buy” rating and a $210.00 price target on the stock. Jefferies Financial Group reduced their target price on Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research report on Monday. JMP Securities reaffirmed a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Loop Capital boosted their price objective on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada upped their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.14.

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, as well as applies artificial intelligence (AI) for solving business problems.