New York State Common Retirement Fund Acquires 25,141 Shares of Snowflake Inc. (NYSE:SNOW)

New York State Common Retirement Fund raised its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,738 shares of the company's stock after purchasing an additional 25,141 shares during the period. New York State Common Retirement Fund owned 0.12% of Snowflake worth $58,864,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNOW. Sentinel Trust Co. LBA lifted its stake in Snowflake by 8.7% during the first quarter. Sentinel Trust Co. LBA now owns 1,994 shares of the company's stock worth $291,000 after purchasing an additional 159 shares during the last quarter. Arizona State Retirement System boosted its stake in Snowflake by 1.0% in the first quarter. Arizona State Retirement System now owns 87,188 shares of the company's stock worth $12,743,000 after buying an additional 842 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of Snowflake during the first quarter worth approximately $230,000. Ballentine Partners LLC raised its position in Snowflake by 38.5% in the 1st quarter. Ballentine Partners LLC now owns 1,866 shares of the company's stock worth $273,000 after purchasing an additional 519 shares during the period. Finally, Fort Sheridan Advisors LLC grew its stake in shares of Snowflake by 27.0% during the first quarter. Fort Sheridan Advisors LLC now owns 1,762 shares of the company's stock valued at $258,000 after buying an additional 375 shares during the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other Snowflake news, Director Mark Garrett sold 67,000 shares of Snowflake stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $198.98, for a total value of $13,331,660.00. Following the completion of the sale, the director owned 7,428 shares of the company's stock, valued at approximately $1,478,023.44. The trade was a 90.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 424,852 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the sale, the director owned 165,507 shares of the company's stock, valued at approximately $36,303,960.45. This represents a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,718,258 shares of company stock worth $589,762,906 over the last quarter. Company insiders own 6.80% of the company's stock.

Snowflake Stock Up 1.1%

Shares of SNOW stock traded up $2.38 during mid-day trading on Monday, hitting $213.22. The company's stock had a trading volume of 2,862,892 shares, compared to its average volume of 5,280,263. The stock has a market cap of $71.19 billion, a price-to-earnings ratio of -50.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The business has a 50-day moving average price of $203.53 and a 200 day moving average price of $177.21.

Snowflake (NYSE:SNOW - Get Free Report) last posted its 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. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. Research analysts predict that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SNOW shares. Bank of America lifted their target price on shares of Snowflake from $172.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Mizuho boosted their price objective on shares of Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Scotiabank reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. Morgan Stanley initiated coverage on Snowflake in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $262.00 target price on the stock. Finally, Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus target price of $225.36.

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.