Snowflake Inc. (NYSE:SNOW) Shares Bought by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 19,399.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,572,336 shares of the company's stock after purchasing an additional 2,559,144 shares during the period. Snowflake accounts for about 2.5% of Ontario Teachers Pension Plan Board's investment portfolio, making the stock its 16th largest position. Ontario Teachers Pension Plan Board owned approximately 0.77% of Snowflake worth $295,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SNOW. LRI Investments LLC raised its position in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the second quarter worth $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the third quarter valued at about $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the third quarter worth $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Snowflake during the second quarter worth approximately $39,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNOW. Hsbc Global Res raised shares of Snowflake from a "moderate sell" rating to a "hold" rating in a research note on Friday, August 23rd. Evercore ISI dropped their price target on Snowflake from $225.00 to $170.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. HSBC upgraded Snowflake from a "reduce" rating to a "hold" rating and raised their target price for the company from $119.00 to $121.00 in a research note on Friday, August 23rd. Piper Sandler restated an "overweight" rating and set a $165.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Finally, Wedbush raised shares of Snowflake to a "hold" rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $171.59.

Snowflake Stock Down 0.9 %

Shares of Snowflake stock traded down $1.12 on Wednesday, reaching $129.12. 10,962,865 shares of the stock were exchanged, compared to its average volume of 6,496,076. The firm has a market capitalization of $43.28 billion, a price-to-earnings ratio of -42.57 and a beta of 0.83. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The business has a 50 day moving average price of $117.48 and a two-hundred day moving average price of $127.89.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million for the quarter, compared to analysts' expectations of $851.72 million. During the same period last year, the firm earned ($0.52) EPS. The company's quarterly revenue was up 28.9% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is owned by corporate insiders.

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.