Employees Retirement System of Texas Boosts Holdings in Snowflake Inc. (NYSE:SNOW)

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

Several other institutional investors have also recently bought and sold shares of the business. Ballentine Partners LLC bought a new position in shares of Snowflake in the 4th quarter worth $208,000. Nisa Investment Advisors LLC increased its stake in shares of Snowflake by 31.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company's stock valued at $314,000 after acquiring an additional 490 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Snowflake by 28.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 43,877 shares of the company's stock valued at $6,775,000 after acquiring an additional 9,784 shares during the period. Mutual Advisors LLC bought a new stake in Snowflake in the fourth quarter valued at approximately $298,000. Finally, Avior Wealth Management LLC raised its stake in Snowflake by 182.0% during the 4th quarter. Avior Wealth Management LLC now owns 313 shares of the company's stock worth $48,000 after buying an additional 202 shares during the period. Institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the topic of a number of research analyst reports. JMP Securities set a $245.00 price target on Snowflake in a research report on Thursday, May 22nd. Jefferies Financial Group lifted their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Snowflake in a report on Thursday, May 22nd. Cowen restated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Finally, UBS Group upped their target price on shares of Snowflake from $200.00 to $210.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.33.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares of the company's stock, valued at $28,345,319.64. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 849,779 shares of company stock valued at $158,838,193. 7.80% of the stock is currently owned by company insiders.

Snowflake Trading Down 1.0%

Shares of SNOW stock traded down $2.00 during mid-day trading on Thursday, reaching $202.40. 3,800,122 shares of the stock traded hands, compared to its average volume of 6,474,165. The stock's fifty day simple moving average is $161.99 and its two-hundred day simple moving average is $165.25. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $209.80. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $66.81 billion, a price-to-earnings ratio of -59.70 and a beta of 1.11.

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

Snowflake 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.