New York State Common Retirement Fund Increases Stock Holdings in Snowflake Inc. $SNOW

New York State Common Retirement Fund increased its holdings in Snowflake Inc. (NYSE:SNOW) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 409,987 shares of the company’s stock after buying an additional 7,249 shares during the quarter. New York State Common Retirement Fund owned 0.12% of Snowflake worth $91,743,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SNOW. Capital Advantage Inc. increased its position in Snowflake by 1.1% in the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after buying an additional 48 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares during the period. Avion Wealth increased its holdings in Snowflake by 76.6% in the 2nd quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Insigneo Advisory Services LLC raised its stake in Snowflake by 1.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 4,003 shares of the company’s stock worth $896,000 after acquiring an additional 52 shares during the period. Finally, Advyzon Investment Management LLC raised its stake in Snowflake by 3.8% during the 2nd quarter. Advyzon Investment Management LLC now owns 1,520 shares of the company’s stock worth $340,000 after acquiring an additional 55 shares during the period. Institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, Director Frank Slootman sold 7,551 shares of Snowflake stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $221.24, for a total transaction of $1,670,583.24. Following the completion of the sale, the director directly owned 153,226 shares in the company, valued at approximately $33,899,720.24. This trade represents a 4.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $224.85, for a total transaction of $11,318,499.30. Following the sale, the director owned 35,276 shares of the company’s stock, valued at $7,931,808.60. The trade was a 58.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 221,305 shares of company stock valued at $52,925,799 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

SNOW stock opened at $250.97 on Friday. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The firm has a market capitalization of $85.03 billion, a P/E ratio of -60.47 and a beta of 1.23. The company has a fifty day simple moving average of $248.96 and a two-hundred day simple moving average of $224.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period last year, the company earned $0.18 EPS. Analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNOW. Canaccord Genuity Group raised their price objective on shares of Snowflake from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. BTIG Research raised their price target on Snowflake from $276.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Royal Bank Of Canada boosted their price objective on Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a research note on Friday, October 17th. Finally, Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.22.

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.