California State Teachers Retirement System Acquires 11,424 Shares of Snowflake Inc. $SNOW

California State Teachers Retirement System raised its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,356 shares of the company's stock after buying an additional 11,424 shares during the quarter. California State Teachers Retirement System owned about 0.14% of Snowflake worth $127,340,602 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. Alan B Lancz & Associates Inc. acquired a new stake in shares of Snowflake in the 2nd quarter worth $202,000. Ameritas Advisory Services LLC raised its position in shares of Snowflake by 439.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,181 shares of the company's stock valued at $1,828,000 after purchasing an additional 5,851 shares in the last quarter. Styrax Capital LP bought a new position in Snowflake in the 2nd quarter worth about $38,175,000. Sovereign Investment Advisors LLC acquired a new position in shares of Snowflake in the second quarter worth about $209,000. Finally, HB Wealth Management LLC increased its holdings in shares of Snowflake by 4.2% during the 2nd quarter. HB Wealth Management LLC now owns 9,278 shares of the company's stock valued at $2,361,000 after acquiring an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $353.87, for a total transaction of $142,609.61. Following the sale, the director owned 22,170 shares of the company's stock, valued at $7,845,297.90. This trade represents a 1.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 48,990 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $320.78, for a total transaction of $15,715,012.20. Following the sale, the director directly owned 28,535 shares in the company, valued at $9,153,457.30. This represents a 63.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,216,974 shares of company stock valued at $350,103,983. 4.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Down 3.0%

Shares of NYSE:SNOW traded down $9.94 on Tuesday, reaching $322.41. The company had a trading volume of 2,410,808 shares, compared to its average volume of 6,762,358. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average price of $306.58 and a 200 day moving average price of $227.42. The stock has a market capitalization of $113.75 billion, a P/E ratio of -101.04 and a beta of 1.33. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The firm's revenue for the quarter was up 35.1% compared to the same quarter last year. On average, equities analysts expect that Snowflake Inc. will post -1.6 EPS for the current year.

Analyst Ratings Changes

SNOW has been the topic of several analyst reports. Royal Bank Of Canada boosted their price target on shares of Snowflake from $372.00 to $440.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Citigroup boosted their price target on Snowflake from $395.00 to $490.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Monness Crespi & Hardt lifted their target price on Snowflake from $380.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. HSBC set a $289.00 price target on Snowflake and gave the company a "buy" rating in a report on Friday, May 29th. Finally, UBS Group increased their target price on shares of Snowflake from $425.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $414.24.

Snowflake Company Profile

Snowflake Inc NYSE: SNOW is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake's Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake's marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.

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