California State Teachers Retirement System Acquires 126,851,670 Shares of Snowflake Inc. $SNOW

Key Points

• California State Teachers Retirement System dramatically increased its Snowflake stake by 126.85 million shares in the second quarter, bringing its holdings to 127.34 million shares, or approximately 36.74% of the company.
• Snowflake reported stronger-than-expected quarterly results, with revenue up 35.1% year over year to $1.55 billion and EPS of $0.62 versus the $0.45 estimate. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $414.24.
• Despite positive growth and AI-related momentum, valuation and insider selling remain concerns: the stock trades near its 52-week high, while insiders have sold 1.13 million shares worth about $317.3 million over the past 90 days.

California State Teachers Retirement System increased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 25,944.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,340,602 shares of the company's stock after acquiring an additional 126,851,670 shares during the quarter. California State Teachers Retirement System owned about 36.74% of Snowflake worth $32,408,183,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SNOW. Tsfg LLC grew its stake in Snowflake by 27.8% in the second quarter. Tsfg LLC now owns 230 shares of the company's stock valued at $59,000 after purchasing an additional 50 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in shares of Snowflake by 4.4% during the 4th quarter. Great Valley Advisor Group Inc. now owns 1,438 shares of the company's stock worth $316,000 after purchasing an additional 60 shares in the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Snowflake by 4.5% during the 4th quarter. Johnson Investment Counsel Inc. now owns 1,383 shares of the company's stock worth $303,000 after purchasing an additional 60 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Snowflake by 4.5% during the 4th quarter. LRI Investments LLC now owns 1,437 shares of the company's stock valued at $315,000 after buying an additional 62 shares during the last quarter. Finally, L2 Asset Management LLC lifted its holdings in shares of Snowflake by 4.9% during the 3rd quarter. L2 Asset Management LLC now owns 1,379 shares of the company's stock valued at $311,000 after buying an additional 64 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake’s latest results showed product revenue growth of 37% year over year, accelerating for the third consecutive quarter. Full-year product-revenue guidance was raised to approximately $6.07 billion, supporting expectations for continued growth. Prediction: Snowflake's Product Revenue Passes $8 Billion in Fiscal 2028
• Positive Sentiment: Investors responded favorably to Snowflake’s earnings because expanding consumption and revenue provided more tangible evidence that the company is benefiting from AI adoption. This helped Snowflake outperform other AI-related software names. Snowflake and C3.ai Reported the Same Night. Only One AI Story Won
• Positive Sentiment: Wall Street’s average brokerage recommendation remains equivalent to “Buy,” and Argus raised its price target to $450, reinforcing bullish sentiment. Wall Street Bulls Look Optimistic About Snowflake
• Neutral Sentiment: Snowflake has become a heavily watched and trending stock, increasing visibility but also indicating that expectations and trading activity may be elevated. Snowflake Is a Trending Stock
• Negative Sentiment: Despite stronger growth, commentary cautions that Snowflake’s valuation is elevated after its recent rally, potentially limiting additional upside and increasing volatility. Should You Buy Snowflake Stock After Its Recent Surge?
• Negative Sentiment: Two Snowflake executives sold shares worth approximately $4.9 million and $3.8 million, respectively. The sales may raise caution after the rally, although they do not necessarily indicate a change in the company’s outlook. Snowflake EVP Sells Stock

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNOW. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Snowflake in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Snowflake from $300.00 to $436.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group boosted their target price on shares of Snowflake from $425.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Sanford C. Bernstein increased their price target on shares of Snowflake from $195.00 to $250.00 and gave the stock a "market perform" rating in a research note on Thursday, May 28th. Finally, Wedbush raised their price target on shares of Snowflake from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. Thirty-four equities research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $414.24.

Snowflake Stock Performance

NYSE:SNOW opened at $338.47 on Tuesday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The firm's fifty day simple moving average is $299.42 and its 200 day simple moving average is $221.73. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $117.31 billion, a PE ratio of -106.44 and a beta of 1.33.

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, topping 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 47.20%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The business's revenue was up 35.1% on a year-over-year basis. On average, sell-side analysts anticipate that Snowflake Inc. will post -1.8 EPS for the current year.

Insider Activity

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the completion of the sale, the executive vice president owned 18,568 shares in the company, valued at $7,055,840. This represents a 35.00% 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 Michael L. Speiser sold 403 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $130,596.18. Following the completion of the sale, the director directly owned 22,573 shares in the company, valued at $7,315,006.38. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,128,431 shares of company stock valued at $317,314,470. 4.80% of the stock is owned by insiders.

Snowflake Company Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.