Teacher Retirement System of Texas lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 782.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,793 shares of the company's stock after buying an additional 15,776 shares during the quarter. Teacher Retirement System of Texas' holdings in Snowflake were worth $2,747,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Royal London Asset Management Ltd. increased its stake in Snowflake by 2.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 148,192 shares of the company's stock valued at $22,882,000 after purchasing an additional 4,080 shares in the last quarter. Trivest Advisors Ltd bought a new stake in Snowflake in the 4th quarter valued at about $41,073,000. Kazazian Asset Management LLC bought a new stake in Snowflake in the 4th quarter valued at about $1,266,000. Generali Investments Management Co LLC acquired a new position in Snowflake during the 4th quarter worth approximately $1,624,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Snowflake in the fourth quarter worth approximately $875,000. Institutional investors own 65.10% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on SNOW shares. Stifel Nicolaus boosted their price objective on Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Evercore ISI raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Snowflake from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Mizuho upped their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $205.08.
View Our Latest Stock Analysis on Snowflake
Insider Buying and Selling
In other news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company's stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 603,968 shares of company stock worth $99,863,550 in the last quarter. 7.80% of the stock is owned by insiders.
Snowflake Price Performance
SNOW stock traded down $6.38 during mid-day trading on Friday, hitting $150.60. 4,647,822 shares of the stock were exchanged, compared to its average volume of 6,381,805. 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 stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07. The business has a fifty day moving average price of $171.99 and a 200 day moving average price of $151.30. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.
About Snowflake
(
Free Report)
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.
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