Snowflake Inc. $SNOW Stock Holdings Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in Snowflake Inc. (NYSE:SNOW) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,337 shares of the company’s stock after acquiring an additional 2,382 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Snowflake were worth $6,906,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNOW. Silicon Valley Capital Partners increased its position in Snowflake by 15.2% during the second quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock worth $15,801,000 after buying an additional 8,208 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Snowflake in the second quarter worth about $1,399,000. Swiss National Bank lifted its position in shares of Snowflake by 7.1% in the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock worth $142,465,000 after buying an additional 62,600 shares during the last quarter. National Pension Service lifted its position in shares of Snowflake by 3.3% in the second quarter. National Pension Service now owns 690,349 shares of the company’s stock worth $175,694,000 after buying an additional 21,915 shares during the last quarter. Finally, Ameritas Advisory Services LLC boosted its stake in shares of Snowflake by 439.9% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,181 shares of the company’s stock worth $1,828,000 after acquiring an additional 5,851 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Michael Speiser sold 50,338 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $353.87, for a total transaction of $17,813,108.06. Following the completion of the transaction, the director owned 25,196 shares of the company’s stock, valued at approximately $8,916,108.52. The trade was a 66.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 50,000 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $350.00, for a total value of $17,500,000.00. Following the sale, the director owned 10,074 shares of the company’s stock, valued at approximately $3,525,900. The trade was a 83.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,186,443 shares of company stock valued at $387,734,752. Company insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BTIG Research increased their price objective on Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Evercore reissued an “outperform” rating and issued a $430.00 price objective on shares of Snowflake in a research note on Thursday, September 3rd. Deutsche Bank set a $400.00 target price on Snowflake in a report on Thursday, September 3rd. Phillip Securities lowered Snowflake from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, October 12th. Finally, Benchmark upped their target price on Snowflake from $290.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Thirty-six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $413.87.

Snowflake Stock Performance

Shares of SNOW opened at $299.01 on Friday. The company has a market capitalization of $105.49 billion, a PE ratio of -94.03 and a beta of 1.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. Snowflake Inc. has a one year low of $118.30 and a one year high of $384.56. The company’s fifty day moving average price is $326.01 and its 200 day moving average price is $243.40.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. As a group, analysts expect that Snowflake Inc. will post -1.42 earnings per share for the current year.

Snowflake Profile

Snowflake Inc. provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services. Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.