State of New Jersey Common Pension Fund D Buys 10,987 Shares of Snowflake Inc. (NYSE:SNOW)

State of New Jersey Common Pension Fund D boosted its stake in Snowflake Inc. (NYSE:SNOW) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 160,491 shares of the company’s stock after purchasing an additional 10,987 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Snowflake were worth $31,938,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cigna Investments Inc. New grew its stake in shares of Snowflake by 1.6% during the 4th quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares during the period. E&G Advisors LP boosted its position in Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after purchasing an additional 51 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Snowflake by 18.1% in the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock valued at $68,000 after purchasing an additional 53 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in shares of Snowflake by 5.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,106 shares of the company’s stock valued at $220,000 after buying an additional 61 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SNOW. Stifel Nicolaus lowered their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. JMP Securities boosted their price objective on Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. Mizuho restated a “buy” rating and issued a $205.00 target price (down previously from $255.00) on shares of Snowflake in a research note on Thursday, February 29th. Monness Crespi & Hardt upgraded Snowflake from a “sell” rating to a “neutral” rating in a research report on Monday, March 18th. Finally, Redburn Atlantic restated a “sell” rating and issued a $125.00 price objective (down from $180.00) on shares of Snowflake in a research report on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $202.00.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Snowflake news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $161.42, for a total transaction of $111,218.38. Following the sale, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold 168,209 shares of company stock valued at $34,291,592 over the last ninety days. 8.30% of the stock is owned by insiders.

Snowflake Stock Performance

Shares of NYSE SNOW traded up $5.60 during mid-day trading on Friday, hitting $158.11. The stock had a trading volume of 6,530,771 shares, compared to its average volume of 6,529,940. The business has a 50 day moving average price of $171.35 and a two-hundred day moving average price of $178.97. Snowflake Inc. has a 1 year low of $138.40 and a 1 year high of $237.72. The firm has a market cap of $52.84 billion, a P/E ratio of -62.01 and a beta of 0.91.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Equities research analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

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.