Public Sector Pension Investment Board Buys New Holdings in Snowflake Inc. $SNOW

Public Sector Pension Investment Board acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 148,900 shares of the company’s stock, valued at approximately $33,319,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Berkshire Capital Holdings Inc. raised its holdings in Snowflake by 71,500.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock worth $1,047,000 after buying an additional 7,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Snowflake during the second quarter worth about $6,845,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth about $3,900,134,000. Bank of Hawaii bought a new position in Snowflake in the 1st quarter valued at about $1,019,000. Finally, Goldstream Capital Management Ltd acquired a new position in Snowflake during the 2nd quarter valued at about $3,801,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SNOW. Wells Fargo & Company lifted their price objective on shares of Snowflake from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. The Goldman Sachs Group boosted their price target on shares of Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Snowflake in a research report on Thursday, December 4th. Bank of America increased their price objective on shares of Snowflake from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $274.78.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $230.65, for a total value of $92,951.95. Following the sale, the director owned 24,524 shares of the company’s stock, valued at $5,656,460.60. The trade was a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 548 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $223.31, for a total transaction of $122,373.88. Following the completion of the transaction, the executive vice president directly owned 510,435 shares of the company’s stock, valued at approximately $113,985,239.85. This trade represents a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 221,360 shares of company stock worth $53,391,315. Company insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Snowflake stock opened at $217.95 on Friday. The business’s 50 day simple moving average is $250.24 and its 200 day simple moving average is $227.34. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67. The company has a market cap of $73.84 billion, a price-to-earnings ratio of -53.95 and a beta of 1.09. The company has a current ratio of 1.37, a quick ratio of 1.48 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.20 earnings per share. The business’s revenue was up 28.7% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS 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, as well as applies artificial intelligence (AI) for solving business problems.