California State Teachers Retirement System Sells 13,591 Shares of Snowflake Inc. (NYSE:SNOW)

California State Teachers Retirement System cut its stake in Snowflake Inc. (NYSE:SNOW) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,424 shares of the company’s stock after selling 13,591 shares during the period. California State Teachers Retirement System’s holdings in Snowflake were worth $72,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter valued at $988,950,000. GQG Partners LLC acquired a new position in Snowflake in the fourth quarter worth about $750,572,000. Jennison Associates LLC lifted its stake in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. FMR LLC boosted its holdings in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock valued at $612,817,000 after purchasing an additional 2,200,406 shares during the period. Institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNOW. Canaccord Genuity Group boosted their price target on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Jefferies Financial Group lowered their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Rosenblatt Securities lifted their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their price objective on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a research note on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.27.

Snowflake Stock Up 0.8 %

SNOW stock opened at $160.28 on Wednesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a market cap of $52.91 billion, a price-to-earnings ratio of -47.28 and a beta of 1.13. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $153.86 and a two-hundred day moving average price of $156.33.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company’s stock, valued at $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,342 shares of company stock valued at $61,578,513. 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.