Teacher Retirement System of Texas Has $8.37 Million Stake in Snowflake Inc. (NYSE:SNOW)

Teacher Retirement System of Texas grew its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 221.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 57,231 shares of the company's stock after acquiring an additional 39,438 shares during the quarter. Teacher Retirement System of Texas' holdings in Snowflake were worth $8,365,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the 1st quarter valued at about $26,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 294,125 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $217.29, for a total value of $63,910,421.25. Following the transaction, the director directly owned 165,507 shares of the company's stock, valued at approximately $35,963,016.03. This represents a 63.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Emily Ho sold 1,544 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $220.98, for a total transaction of $341,193.12. Following the completion of the transaction, the chief accounting officer directly owned 35,100 shares in the company, valued at $7,756,398. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,876,557 shares of company stock worth $403,565,119. Insiders own 6.80% of the company's stock.

Snowflake Trading Up 1.9%

Shares of NYSE:SNOW traded up $4.22 on Monday, reaching $225.71. 4,050,673 shares of the company traded hands, compared to its average volume of 6,048,779. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.83. The company's 50 day moving average is $197.86 and its 200-day moving average is $175.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last announced 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.14 EPS. The company's revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNOW. Hsbc Global Res downgraded Snowflake from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Loop Capital raised their price target on Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. BTIG Research reissued a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Sanford C. Bernstein reissued a "market perform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, DA Davidson reissued a "buy" rating and set a $250.00 price target on shares of Snowflake in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.