Employees Retirement System of Texas Has $2.81 Million Stock Position in Snowflake Inc. $SNOW

Key Points

• Employees Retirement System of Texas cut its Snowflake stake by 48.3% in the fourth quarter, leaving it with 12,791 shares valued at about $2.81 million.
• Several other institutions increased their positions, and overall institutional ownership remains high at 65.10% of Snowflake’s shares.
• Snowflake reported stronger-than-expected quarterly results, with $0.39 EPS and $1.39 billion in revenue, while also boosting its annual product revenue outlook on improving AI and cloud demand.

Employees Retirement System of Texas decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,791 shares of the company's stock after selling 11,940 shares during the period. Employees Retirement System of Texas' holdings in Snowflake were worth $2,806,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SNOW. Assetmark Inc. lifted its position in shares of Snowflake by 99.1% in the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company's stock worth $43,577,000 after buying an additional 98,870 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Snowflake by 13.5% in the third quarter. Federated Hermes Inc. now owns 408,037 shares of the company's stock worth $92,047,000 after buying an additional 48,411 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock worth $2,545,300,000 after buying an additional 2,519,413 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Snowflake in the third quarter worth about $116,882,000. Finally, Penserra Capital Management LLC lifted its position in shares of Snowflake by 32.8% in the third quarter. Penserra Capital Management LLC now owns 153,358 shares of the company's stock worth $34,586,000 after buying an additional 37,911 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $165.01, for a total value of $1,650,100.00. Following the completion of the transaction, the executive vice president owned 510,477 shares of the company's stock, valued at $84,233,809.77. This represents a 1.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $175.19, for a total transaction of $8,818,714.22. Following the completion of the transaction, the director owned 30,236 shares of the company's stock, valued at approximately $5,297,044.84. This represents a 62.47% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 428,963 shares of company stock worth $71,996,216. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price objective on shares of Snowflake from $270.00 to $240.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $275.00 to $282.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Piper Sandler reduced their price objective on shares of Snowflake from $285.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of Snowflake from $290.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. Finally, TD Cowen restated a "buy" rating on shares of Snowflake in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $241.51.

Snowflake Price Performance

NYSE:SNOW opened at $174.60 on Thursday. The stock has a market cap of $60.36 billion, a P/E ratio of -44.20 and a beta of 1.08. Snowflake Inc. has a one year low of $118.30 and a one year high of $280.67. The company has a fifty day moving average price of $153.75 and a 200 day moving average price of $190.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. The firm had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.32 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The business's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. Analysts anticipate that Snowflake Inc. will post -2.16 earnings per share for the current year.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake beat first-quarter expectations, reporting $0.39 EPS versus the $0.32 consensus and revenue of $1.39 billion versus $1.32 billion expected. Snowflake Reports Financial Results for the First Quarter of Fiscal 2027
• Positive Sentiment: The company raised its annual product revenue forecast, signaling stronger demand from enterprise AI workloads and cloud migrations. Snowflake raises annual product revenue forecast as enterprises ramp up AI workloads
• Positive Sentiment: Snowflake announced a $6 billion, five-year strategic collaboration with AWS, including use of Amazon’s Graviton processors and AI infrastructure, which investors see as a major growth driver for its AI platform. Snowflake Expands AWS Collaboration with $6B Commitment to Accelerate Enterprise Agentic AI Adoption
• Positive Sentiment: Management said AI is becoming a clear tailwind, with product revenue growth accelerating and the quarter marking a potential inflection point in demand. Snowflake Reports Financial Results for the First Quarter of Fiscal 2027
• Neutral Sentiment: Snowflake also announced plans to acquire Natoma to strengthen secure connectivity and governance for AI agents, a strategic move that may support longer-term platform adoption. Snowflake Announces Intent to Acquire Natoma, Providing Secure Connectivity For The Agentic Enterprise
• Negative Sentiment: A newly filed securities class action lawsuit could create headline risk and some investor overhang, though it appears unrelated to the latest operating results. Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Snowflake, Inc. (SNOW)

About Snowflake

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.

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