Nykredit A S bought a new position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 137,776 shares of the company’s stock, valued at approximately $35,064,000.
Several other large investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. AG raised its position in shares of Snowflake by 4.4% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 13,246 shares of the company’s stock worth $3,371,000 after acquiring an additional 555 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in Snowflake during the second quarter worth approximately $98,000. Tsfg LLC raised its holdings in Snowflake by 27.8% during the second quarter. Tsfg LLC now owns 230 shares of the company’s stock worth $59,000 after purchasing an additional 50 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of Snowflake by 4.3% during the 2nd quarter. Independence Bank of Kentucky now owns 13,864 shares of the company’s stock worth $3,528,000 after buying an additional 573 shares during the last quarter. Finally, Triumph Capital Management lifted its position in shares of Snowflake by 6.9% during the 2nd quarter. Triumph Capital Management now owns 2,532 shares of the company’s stock worth $644,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.
Trending Headlines about Snowflake
Here are the key news stories impacting Snowflake this week:
- Positive Sentiment: Strong earnings beat and accelerating growth: Snowflake reported adjusted earnings of $0.62 per share, ahead of the $0.45 consensus estimate, while revenue rose 35.1% year over year to $1.55 billion, topping the $1.48 billion forecast. Product revenue increased 37% to approximately $1.49 billion. Snowflake spikes on healthy results and AI coding momentum
- Positive Sentiment: AI demand is becoming a growth catalyst: Management said AI contributed about half of the company’s outperformance, with adoption of its CoCo AI coding agent adding more than 2,000 accounts. Broad-based demand across customers, workloads and geographies further strengthened the growth outlook. Snowflake Stock Soars as Surging AI Demand Boosts Earnings
- Positive Sentiment: Raised guidance: Snowflake lifted fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion, signaling that cloud consumption and AI-related demand are exceeding prior expectations. The company also remains on track to reach break-even next year, according to CEO Sridhar Ramaswamy.
- Positive Sentiment: Analysts turned more bullish: JPMorgan, UBS, Citi, TD Cowen, Bank of America and several other firms raised price targets, with targets reaching as high as $500 and ratings including Buy, Overweight and Market Outperform. Wall Street analyst views
Snowflake Price Performance
Snowflake (NYSE:SNOW – Get Free Report) last released its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. Snowflake had a negative return on equity of 47.20% and a negative net margin of 20.07%.The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, equities research analysts anticipate that Snowflake Inc. will post -1.81 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. HSBC set a $289.00 target price on shares of Snowflake and gave the company a “buy” rating in a research report on Friday, May 29th. Royal Bank Of Canada upped their price objective on shares of Snowflake from $372.00 to $440.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America raised their price objective on Snowflake from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Wedbush boosted their target price on Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Finally, Truist Financial set a $425.00 target price on Snowflake and gave the company a “buy” rating in a report on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $410.19.
View Our Latest Stock Analysis on SNOW
Insider Buying and Selling at Snowflake
In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the transaction, the executive vice president owned 18,568 shares in the company, valued at approximately $7,055,840. The trade was a 35.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Speiser sold 403 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $324.06, for a total value of $130,596.18. Following the transaction, the director directly owned 22,573 shares in the company, valued at $7,315,006.38. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,131,160 shares of company stock valued at $317,966,701. 4.80% of the stock is owned by corporate insiders.
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.
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