California Public Employees Retirement System Sells 38,957 Shares of Snowflake Inc. (NYSE:SNOW)

California Public Employees Retirement System cut its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,472 shares of the company's stock after selling 38,957 shares during the quarter. California Public Employees Retirement System owned 0.11% of Snowflake worth $57,359,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment acquired a new position in Snowflake during the third quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the 4th quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC increased its position in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co lifted its stake in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Snowflake in the fourth quarter valued at approximately $38,000. Institutional investors own 65.10% of the company's stock.

Snowflake Stock Down 6.8 %

Shares of Snowflake stock traded down $9.49 on Friday, hitting $130.41. The company had a trading volume of 8,210,700 shares, compared to its average volume of 6,400,660. The stock has a market capitalization of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The stock has a 50 day moving average of $168.97 and a 200-day moving average of $152.70.

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Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares of the company's stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 491,186 shares of company stock worth $82,353,709. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SNOW has been the subject of a number of research reports. Barclays increased their price target on Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Bank of America increased their target price on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Mizuho boosted their price target on Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. UBS Group upped their price objective on Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Finally, Loop Capital lifted their target price on shares of Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.05.

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.