Maryland State Retirement & Pension System Grows Holdings in Snowflake Inc. (NYSE:SNOW)

Maryland State Retirement & Pension System increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,468 shares of the company’s stock after purchasing an additional 800 shares during the period. Maryland State Retirement & Pension System’s holdings in Snowflake were worth $4,869,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Provence Wealth Management Group purchased a new stake in Snowflake during the 3rd quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Snowflake by 54.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 205 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its holdings in Snowflake by 89.0% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 206 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the period. M&R Capital Management Inc. grew its stake in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Snowflake by 34.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 2.7 %

Shares of NYSE SNOW traded up $4.38 during midday trading on Monday, reaching $163.70. 3,190,729 shares of the stock were exchanged, compared to its average volume of 6,333,980. The company has a market capitalization of $54.71 billion, a P/E ratio of -64.20 and a beta of 0.90. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The stock has a 50 day moving average price of $161.85 and a 200-day moving average price of $179.19.

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

Insider Buying and Selling at Snowflake

In other Snowflake news, CEO Sridhar Ramaswamy bought 31,542 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the transaction, the chief executive officer now owns 31,542 shares in the company, valued at $5,000,037.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction on Monday, March 25th. The shares were bought at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the transaction, the chief executive officer now directly owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total value of $2,001,149.92. Following the completion of the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,458 shares of company stock valued at $31,585,640. Company insiders own 8.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of analyst reports. Rosenblatt Securities upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Friday, April 5th. Oppenheimer lowered their price target on Snowflake from $240.00 to $220.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Truist Financial cut their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Citigroup lowered their target price on shares of Snowflake from $290.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Guggenheim upgraded shares of Snowflake from a “sell” rating to a “neutral” rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $202.77.

Snowflake 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.