New York State Common Retirement Fund Sells 26,820 Shares of Snowflake Inc. (NYSE:SNOW)

New York State Common Retirement Fund trimmed its stake in Snowflake Inc. (NYSE:SNOW) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 419,700 shares of the company’s stock after selling 26,820 shares during the period. New York State Common Retirement Fund’s holdings in Snowflake were worth $83,520,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new position in Snowflake during the 4th quarter valued at about $790,000. Sequoia Financial Advisors LLC increased its position in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after buying an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Snowflake during the 3rd quarter valued at about $458,000. Glynn Capital Management LLC increased its position in Snowflake by 3.1% during the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after buying an additional 5,629 shares in the last quarter. Finally, Raymond James & Associates increased its position in Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock valued at $58,802,000 after buying an additional 105,937 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snowflake news, CEO Sridhar Ramaswamy acquired 31,542 shares of the stock in a transaction on Monday, March 25th. The shares were bought at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares in the company, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,209 shares of company stock worth $36,391,592. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SNOW shares. Raymond James boosted their price target on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Redburn Atlantic reiterated a “sell” rating and set a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Wedbush boosted their price target on Snowflake from $144.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Stifel Nicolaus dropped their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $250.00 price target on shares of Snowflake in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Snowflake Trading Up 2.2 %

NYSE:SNOW traded up $3.25 during midday trading on Tuesday, reaching $150.46. The company had a trading volume of 2,169,782 shares, compared to its average volume of 6,560,353. The firm has a market capitalization of $50.28 billion, a price-to-earnings ratio of -58.85 and a beta of 0.91. The stock’s fifty day simple moving average is $176.10 and its 200-day simple moving average is $179.38. Snowflake Inc. has a 12-month low of $135.26 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative return on equity of 13.79% and a negative net margin of 29.79%. The company had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. As a group, sell-side analysts expect that Snowflake Inc. will post -1.9 EPS for the current year.

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.