California State Teachers Retirement System Has $73.18 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

California State Teachers Retirement System cut its holdings in Snowflake Inc. (NYSE:SNOW) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,831 shares of the company’s stock after selling 713 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Snowflake worth $73,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Vanguard Group Inc. grew its position in shares of Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after buying an additional 297,428 shares during the last quarter. Jennison Associates LLC boosted its holdings in Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock worth $1,132,568,000 after acquiring an additional 249,249 shares in the last quarter. Sands Capital Management LLC raised its holdings in Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after buying an additional 610,970 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter worth about $838,455,000. Finally, WCM Investment Management LLC raised its holdings in shares of Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock worth $298,644,000 after acquiring an additional 11,677 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the topic of several research analyst reports. Piper Sandler cut their price objective on Snowflake from $240.00 to $165.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Robert W. Baird dropped their price target on Snowflake from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Sanford C. Bernstein upped their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a research note on Thursday, May 23rd. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, Barclays lifted their target price on shares of Snowflake from $188.00 to $191.00 and gave the company an “equal weight” rating in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.31.

Snowflake Price Performance

Shares of SNOW traded up $1.51 on Wednesday, reaching $130.39. 5,491,007 shares of the stock traded hands, compared to its average volume of 6,442,053. The stock’s 50-day moving average price is $135.57 and its 200-day moving average price is $163.73. The firm has a market cap of $43.65 billion, a price-to-earnings ratio of -46.59 and a beta of 0.85. Snowflake Inc. has a 12 month low of $122.60 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The business had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, equities research analysts forecast that Snowflake Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total transaction of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares in the company, valued at $124,504,006.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Teresa Briggs sold 848 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the completion of the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. Insiders have sold a total of 520,678 shares of company stock worth $64,962,300 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Company 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.