Employees Retirement System of Texas Has $6.68 Million Holdings in Snowflake Inc. (NYSE:SNOW)

Employees Retirement System of Texas increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 300.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 43,235 shares of the company’s stock after acquiring an additional 32,435 shares during the period. Employees Retirement System of Texas’ holdings in Snowflake were worth $6,676,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Snowflake during the 4th quarter valued at $988,950,000. GQG Partners LLC acquired a new stake in Snowflake during the fourth quarter worth about $750,572,000. Jennison Associates LLC increased its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. FMR LLC increased its position in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Finally, Groupama Asset Managment boosted its holdings in shares of Snowflake by 930,132.6% during the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock valued at $308,820,000 after acquiring an additional 1,999,785 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SNOW. Jefferies Financial Group reduced their price objective on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus boosted their target price on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. 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 report on Thursday, February 27th. Rosenblatt Securities lifted their price target on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Monness Crespi & Hardt upped their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Insider Buying and Selling

In other news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,186 shares of company stock valued at $82,353,709 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $130.41 on Monday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s fifty day moving average price is $168.97 and its 200-day moving average price is $152.70. The stock has a market cap of $43.05 billion, a PE ratio of -38.47 and a beta of 1.13. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

About Snowflake

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.