State of Michigan Retirement System Makes New $835,000 Investment in Snowflake Inc. $SNOW

State of Michigan Retirement System acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the third quarter, HoldingsChannel.com reports. The fund acquired 3,702 shares of the company’s stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Snowflake by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock valued at $165,123,000 after purchasing an additional 8,002 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Snowflake in the second quarter valued at $6,845,000. Federated Hermes Inc. raised its position in shares of Snowflake by 13.5% in the third quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock valued at $92,047,000 after purchasing an additional 48,411 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Snowflake by 32.8% during the 3rd quarter. Penserra Capital Management LLC now owns 153,358 shares of the company’s stock worth $34,586,000 after buying an additional 37,911 shares during the last quarter. Finally, Rheos Capital Works Inc. lifted its stake in shares of Snowflake by 102.9% during the 3rd quarter. Rheos Capital Works Inc. now owns 207,000 shares of the company’s stock worth $46,689,000 after buying an additional 105,000 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Deepened OpenAI tie-up and new AI tools — market reacted strongly to the expanded OpenAI relationship and product announcements that position Snowflake as a platform for enterprise AI agents. Snowflake (SNOW) Is Up 8.2% After Deepening OpenAI Tie-Up And Unveiling New AI Tools – What’s Changed
• Positive Sentiment: Deal frames enterprise AI agent opportunity — coverage explains how the OpenAI tie-up could accelerate adoption of AI agents on Snowflake’s data cloud. Snowflake OpenAI Deal Puts Enterprise AI Agents At Center Stage
• Positive Sentiment: Analysts reaffirm bullish view on Snowflake’s AI strategy — analyst commentary supports the market’s positive reaction and may sustain increased investor interest. Analysts Reaffirm Bullish View on Snowflake Inc.’s (SNOW) AI Strategy
• Positive Sentiment: New commercial partnership with U.S. Figure Skating — expands Snowflake’s vertical use cases (athlete performance, fan engagement) and showcases go-to-market momentum. U.S. Figure Skating Elevates Athlete Development and Fan Engagement with Snowflake Intelligence
• Positive Sentiment: Notable buy by CNBC’s Amy Raskin — publicized insider/portfolio manager buying can be read as a vote of confidence. Trade Tracker: Amy Raskin buys more Cadence, Snowflake and Impinj
• Neutral Sentiment: Street rating remains constructive but measured — analysts give an average “Moderate Buy” rating, indicating continued conviction but not unanimous enthusiasm. Snowflake Inc. (NYSE:SNOW) Given Average Rating of “Moderate Buy” by Analysts
• Negative Sentiment: Johnson Fistel launches securities probe — law firm soliciting shareholders about potential claims could increase legal overhang and investor uncertainty. Snowflake Inc. (SNOW) Shareholders Are Encouraged to Reach Out to Johnson Fistel for More Information about Potentially Recovering Their Losses
• Negative Sentiment: Pomerantz begins investor investigation — a second law firm action raises the risk of litigation costs and management distraction. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Snowflake Inc. – SNOW
• Negative Sentiment: Recent share pullback noted by market commentary — short-term volatility and a recent decline vs. the market are reminders of execution and sentiment risks. Snowflake Inc. (SNOW) Registers a Bigger Fall Than the Market: Important Facts to Note

Analyst Ratings Changes

A number of brokerages recently commented on SNOW. Stifel Nicolaus upped their price target on shares of Snowflake from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, January 21st. DA Davidson reaffirmed a “buy” rating and issued a $300.00 target price on shares of Snowflake in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Finally, Wedbush restated an “outperform” rating and issued a $270.00 price target on shares of Snowflake in a research note on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.68.

Snowflake Trading Up 5.5%

Shares of SNOW stock opened at $182.37 on Friday. The stock has a market cap of $62.41 billion, a P/E ratio of -45.14 and a beta of 1.14. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $208.60 and a 200 day simple moving average of $225.12.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, December 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.18 billion. Snowflake had a negative return on equity of 45.91% and a negative net margin of 30.76%.The company’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $249.53, for a total value of $2,495,300.00. Following the completion of the transaction, the executive vice president owned 512,450 shares of the company’s stock, valued at $127,871,648.50. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $230.65, for a total transaction of $11,610,459.70. Following the sale, the director directly owned 32,756 shares of the company’s stock, valued at $7,555,171.40. This represents a 60.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 613,681 shares of company stock worth $130,573,518 over the last three months. Company insiders own 6.80% of the company’s stock.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.