Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in Snowflake Inc. (NYSE:SNOW)

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 5,565.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,800 shares of the company’s stock after buying an additional 119,650 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Snowflake were worth $16,454,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its holdings in shares of Snowflake by 17.1% in the 4th quarter. Rafferty Asset Management LLC now owns 31,065 shares of the company’s stock valued at $6,182,000 after acquiring an additional 4,532 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Snowflake by 21.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 6,435 shares of the company’s stock worth $1,281,000 after buying an additional 1,147 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in Snowflake by 16.8% during the 4th quarter. Cetera Advisor Networks LLC now owns 20,982 shares of the company’s stock worth $4,175,000 after acquiring an additional 3,019 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Snowflake by 226.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 42,880 shares of the company’s stock worth $8,533,000 after acquiring an additional 29,725 shares during the period. Finally, Pinebridge Investments L.P. boosted its position in Snowflake by 77.0% during the 4th quarter. Pinebridge Investments L.P. now owns 71,543 shares of the company’s stock worth $14,235,000 after acquiring an additional 31,112 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $110.47 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a fifty day moving average price of $117.40 and a 200 day moving average price of $136.38. The stock has a market cap of $36.99 billion, a P/E ratio of -39.45 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The business had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period in the prior year, the company posted ($0.52) earnings per share. Snowflake’s revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts anticipate that Snowflake Inc. will post -2.41 EPS for the current year.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly owns 718,773 shares of the company’s stock, valued at approximately $86,252,760. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at $6,156,469.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,538 shares of company stock valued at $3,449,994. 7.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Jefferies Financial Group reduced their price target on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Stifel Nicolaus reduced their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Finally, Scotiabank cut their price objective on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $174.74.

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.