Ontario Teachers Pension Plan Board Has $166.34 Million Position in Snowflake Inc. (NYSE:SNOW)

Ontario Teachers Pension Plan Board lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 19.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,138,056 shares of the company’s stock after purchasing an additional 182,819 shares during the period. Snowflake accounts for approximately 2.4% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 16th biggest holding. Ontario Teachers Pension Plan Board owned 0.34% of Snowflake worth $166,338,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SNOW. Opal Wealth Advisors LLC acquired a new stake in Snowflake in the 1st quarter worth $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock valued at $29,000 after buying an additional 88 shares during the period. West Paces Advisors Inc. acquired a new stake in Snowflake during the fourth quarter worth about $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake during the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

SNOW has been the topic of several recent research reports. Robert W. Baird lifted their price objective on Snowflake from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Macquarie lifted their price target on shares of Snowflake from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Scotiabank reissued an “outperform” rating on shares of Snowflake in a report on Thursday, May 22nd. Cantor Fitzgerald raised their price objective on shares of Snowflake from $183.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, May 22nd. Finally, Monness Crespi & Hardt lifted their target price on shares of Snowflake from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $226.73.

Snowflake Trading Up 2.3%

Shares of SNOW opened at $210.59 on Thursday. The stock’s fifty day simple moving average is $214.17 and its 200-day simple moving average is $183.55. The firm has a market capitalization of $70.31 billion, a PE ratio of -50.02 and a beta of 1.22. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27. 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 released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue was up 25.8% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Scarpelli sold 400,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.36, for a total value of $82,144,000.00. Following the completion of the sale, the chief financial officer owned 292,610 shares in the company, valued at approximately $60,090,389.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 424,852 shares of the firm’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the transaction, the director owned 165,507 shares in the company, valued at approximately $36,303,960.45. This trade represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,014,642 shares of company stock worth $657,325,186. Insiders own 6.80% of the company’s stock.

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.