Principal Financial Group Inc. Sells 821 Shares of Snowflake Inc. (NYSE:SNOW)

Principal Financial Group Inc. cut its position in shares of Snowflake Inc. (NYSE:SNOWGet Rating) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,429 shares of the company’s stock after selling 821 shares during the quarter. Principal Financial Group Inc.’s holdings in Snowflake were worth $29,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNOW. Morgan Stanley boosted its position in shares of Snowflake by 16.9% during the second quarter. Morgan Stanley now owns 14,898,246 shares of the company’s stock valued at $3,602,396,000 after purchasing an additional 2,150,500 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Snowflake during the third quarter valued at approximately $31,000. CIBC Asset Management Inc boosted its position in shares of Snowflake by 14.5% during the third quarter. CIBC Asset Management Inc now owns 11,969 shares of the company’s stock valued at $3,620,000 after purchasing an additional 1,515 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Snowflake by 837.1% during the third quarter. Teacher Retirement System of Texas now owns 31,009 shares of the company’s stock valued at $9,378,000 after purchasing an additional 27,700 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Snowflake by 49.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 29,608 shares of the company’s stock valued at $8,954,000 after purchasing an additional 9,800 shares in the last quarter. Institutional investors own 76.67% of the company’s stock.

Shares of SNOW opened at $158.36 on Friday. The business has a 50-day simple moving average of $195.66 and a two-hundred day simple moving average of $276.08. The stock has a market cap of $49.82 billion, a price-to-earnings ratio of -69.46 and a beta of 1.80. Snowflake Inc. has a 52 week low of $126.01 and a 52 week high of $405.00.

Snowflake (NYSE:SNOWGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.06. The business had revenue of $383.77 million during the quarter, compared to analysts’ expectations of $371.89 million. Snowflake had a negative return on equity of 13.45% and a negative net margin of 55.76%. During the same quarter in the prior year, the business posted ($0.70) earnings per share. Equities research analysts forecast that Snowflake Inc. will post -1.6 EPS for the current year.

In other Snowflake news, Director Michael L. Speiser sold 750,000 shares of the company’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $222.18, for a total value of $166,635,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.30% of the company’s stock.

SNOW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Snowflake from $375.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Mizuho dropped their target price on Snowflake from $410.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, March 3rd. Evercore ISI dropped their target price on Snowflake from $400.00 to $344.00 in a report on Thursday, March 3rd. The Goldman Sachs Group dropped their target price on Snowflake from $335.00 to $289.00 and set a “buy” rating on the stock in a report on Thursday, April 14th. Finally, Credit Suisse Group dropped their target price on Snowflake from $465.00 to $415.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $303.89.

Snowflake Profile (Get Rating)

Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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Institutional Ownership by Quarter for Snowflake (NYSE:SNOW)

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