California State Teachers Retirement System Decreases Position in Snowflake Inc. (NYSE:SNOW)

California State Teachers Retirement System lowered its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 471,424 shares of the company's stock after selling 13,591 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Snowflake worth $72,793,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SNOW. Westside Investment Management Inc. lifted its position in shares of Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock worth $1,438,000 after purchasing an additional 3,971 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Snowflake by 50.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock worth $535,000 after buying an additional 1,559 shares in the last quarter. Blankinship & Foster LLC purchased a new stake in Snowflake during the third quarter worth $896,000. Synovus Financial Corp boosted its position in Snowflake by 28.6% during the 3rd quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock valued at $698,000 after acquiring an additional 1,352 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock valued at $66,086,000 after acquiring an additional 7,373 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

NYSE SNOW traded up $2.35 on Friday, hitting $167.71. The company had a trading volume of 3,331,414 shares, compared to its average volume of 6,404,404. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company's fifty day moving average price is $153.46 and its 200-day moving average price is $156.96. The company has a market capitalization of $55.36 billion, a PE ratio of -49.47 and a beta of 1.13. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $183.00 price target on shares of Snowflake in a report on Wednesday, April 2nd. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. Needham & Company LLC raised their target price on shares of Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, UBS Group upped their price target on Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $200.28.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their position. 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 on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares in the company, valued at $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. Insiders have sold a total of 374,342 shares of company stock worth $61,578,513 over the last 90 days. 7.80% of the stock is currently owned by company insiders.

Snowflake Company 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.