Maryland State Retirement & Pension System Grows Stock Position in Snowflake Inc. (NYSE:SNOW)

Maryland State Retirement & Pension System grew its stake in Snowflake Inc. (NYSE:SNOW) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,468 shares of the company’s stock after buying an additional 800 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Snowflake were worth $4,869,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNOW. Provence Wealth Management Group bought a new stake in shares of Snowflake in the 3rd quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. increased its position in Snowflake by 54.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after buying an additional 72 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Snowflake by 89.0% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. M&R Capital Management Inc. grew its holdings in shares of Snowflake by 100.0% during the fourth quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after buying an additional 52 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

Shares of Snowflake stock traded up $4.38 during trading on Monday, hitting $163.70. 3,190,729 shares of the company’s stock traded hands, compared to its average volume of 6,333,980. The stock has a market capitalization of $54.71 billion, a P/E ratio of -64.20 and a beta of 0.90. The business has a 50-day simple moving average of $161.85 and a 200-day simple moving average of $179.19. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The company had revenue of $774.70 million for the quarter, compared to the consensus estimate of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, equities analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snowflake news, CEO Frank Slootman sold 86,078 shares of Snowflake stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total value of $19,378,740.14. Following the transaction, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Grzegorz Czajkowski sold 683 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the completion of the sale, the executive vice president now owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank Slootman sold 86,078 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $225.13, for a total value of $19,378,740.14. Following the completion of the transaction, the chief executive officer now directly owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,458 shares of company stock worth $31,585,640. 8.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Snowflake from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $230.00 target price on shares of Snowflake in a research report on Thursday, February 29th. Mizuho reissued a “buy” rating and set a $205.00 price target (down previously from $255.00) on shares of Snowflake in a research report on Thursday, February 29th. Stifel Nicolaus lowered their target price on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, HSBC reaffirmed a “reduce” rating on shares of Snowflake in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $202.77.

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.