Snowflake Inc. (NYSE:SNOW) Shares Purchased by Employees Retirement System of Texas

Employees Retirement System of Texas grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 300.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,235 shares of the company's stock after acquiring an additional 32,435 shares during the quarter. Employees Retirement System of Texas' holdings in Snowflake were worth $6,676,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Jennison Associates LLC raised its holdings in Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Norges Bank purchased a new position in Snowflake during the 4th quarter valued at approximately $988,950,000. FMR LLC grew its holdings in shares of Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter worth about $750,572,000. Finally, Geode Capital Management LLC raised its holdings in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after buying an additional 15,314 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Up 1.7%

Shares of SNOW stock traded up $3.38 during trading on Friday, reaching $205.69. The company's stock had a trading volume of 7,073,445 shares, compared to its average volume of 6,465,363. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $209.80. The stock's 50-day moving average price is $163.63 and its 200 day moving average price is $166.35. The company has a market capitalization of $68.67 billion, a price-to-earnings ratio of -60.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 EPS. On average, research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SNOW shares. Truist Financial lifted their target price on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. Raymond James reissued an "outperform" rating and set a $212.00 price objective (up from $196.00) on shares of Snowflake in a report on Thursday, May 22nd. UBS Group boosted their price objective on Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Finally, Hsbc Global Res lowered Snowflake from a "hold" rating to a "strong sell" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $217.33.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 849,779 shares of company stock valued at $158,838,193. Insiders own 7.80% of the company's stock.

About Snowflake

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.