21,321 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Kentucky Retirement Systems

Kentucky Retirement Systems acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,321 shares of the company’s stock, valued at approximately $3,116,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Norges Bank bought a new stake in Snowflake during the 4th quarter worth $988,950,000. GQG Partners LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $750,572,000. FMR LLC grew its position in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 2,200,406 shares during the last quarter. Finally, Groupama Asset Managment grew its position in shares of Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock valued at $308,820,000 after buying an additional 1,999,785 shares during the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNOW. BTIG Research reiterated a “buy” rating on shares of Snowflake in a research report on Thursday, May 22nd. Royal Bank Of Canada upped their price target on Snowflake from $236.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, June 4th. Mizuho lifted their target price on shares of Snowflake from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Snowflake in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $223.54.

Snowflake Stock Performance

Shares of Snowflake stock opened at $211.84 on Monday. The company has a market cap of $70.73 billion, a PE ratio of -50.32 and a beta of 1.21. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $215.99. The business has a 50 day moving average price of $183.12 and a 200-day moving average price of $171.86. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 earnings per share. Equities analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now directly owns 26,375 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 894,638 shares of company stock valued at $169,965,038 over the last ninety days. 6.80% of the stock is currently owned by insiders.

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.