2,382 Snowflake Inc. $SNOW Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in Snowflake Inc. (NYSE:SNOW) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,337 shares of the company’s stock after purchasing an additional 2,382 shares during the period. Maryland State Retirement & Pension System’s holdings in Snowflake were worth $6,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Reyes Financial Architecture Inc. bought a new position in shares of Snowflake during the 3rd quarter worth about $32,000. Mather Group LLC. raised its position in shares of Snowflake by 98.0% during the third quarter. Mather Group LLC. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 50 shares during the last quarter. Ninety One UK Ltd bought a new stake in shares of Snowflake in the third quarter valued at about $36,000. Fortitude Family Office LLC lifted its stake in shares of Snowflake by 146.7% in the third quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock valued at $38,000 after buying an additional 66 shares during the period. Finally, GK Wealth Management LLC bought a new stake in shares of Snowflake in the third quarter valued at about $41,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 300,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the completion of the transaction, the director owned 19,024 shares in the company, valued at $6,019,764.32. This trade represents a 94.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of Snowflake stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total value of $253,951.80. Following the sale, the executive directly owned 211,619 shares in the company, valued at $71,180,166.84. The trade was a 0.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,186,443 shares of company stock worth $387,734,752. Insiders own 4.80% of the company’s stock.

Snowflake Trading Down 0.7%

Shares of SNOW stock opened at $299.01 on Friday. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The stock has a market cap of $105.49 billion, a price-to-earnings ratio of -94.03 and a beta of 1.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a fifty day moving average of $326.01 and a 200-day moving average of $243.40.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, equities research analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SNOW shares. UBS Group lifted their target price on Snowflake from $425.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Rosenblatt Securities upped their price target on Snowflake from $285.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Citizens Jmp upped their price target on Snowflake from $408.00 to $488.00 and gave the company a “market outperform” rating in a report on Thursday, September 3rd. Evercore reiterated an “outperform” rating and issued a $430.00 price objective on shares of Snowflake in a research report on Thursday, September 3rd. Finally, Jefferies Financial Group set a $430.00 price objective on Snowflake and gave the stock a “buy” rating in a report on Thursday, September 3rd. Thirty-six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $413.87.

Snowflake Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.