Teacher Retirement System of Texas Increases Stake in Snowflake Inc. (NYSE:SNOW)

Teacher Retirement System of Texas raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 782.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,793 shares of the company’s stock after buying an additional 15,776 shares during the quarter. Teacher Retirement System of Texas’ holdings in Snowflake were worth $2,747,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Jennison Associates LLC boosted its position 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 acquiring an additional 3,662,671 shares during the last quarter. State Street Corp boosted its holdings in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Snowflake by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company’s stock worth $222,344,000 after buying an additional 51,366 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer upped their target price on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Monness Crespi & Hardt upped their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Rosenblatt Securities lifted their target price on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target for the company in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.08.

Snowflake Price Performance

SNOW stock opened at $162.86 on Wednesday. The stock has a market cap of $53.76 billion, a price-to-earnings ratio of -48.04 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. 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 $172.75 and a 200 day moving average price of $150.63.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 685 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares in the company, valued at $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is currently owned by insiders.

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.