Peregrine Capital Management LLC Sells 12,992 Shares of Snowflake Inc. $SNOW

Peregrine Capital Management LLC cut its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 279,371 shares of the company’s stock after selling 12,992 shares during the quarter. Snowflake comprises approximately 1.9% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Peregrine Capital Management LLC owned 0.08% of Snowflake worth $61,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after acquiring an additional 29,320 shares during the period. Intech Investment Management LLC boosted its position in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after purchasing an additional 2,167 shares during the period. Geneos Wealth Management Inc. increased its holdings in Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after purchasing an additional 73 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in Snowflake in the 2nd quarter valued at approximately $221,000. Finally, The Manufacturers Life Insurance Company raised its position in Snowflake by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after purchasing an additional 1,521 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNOW. Needham & Company LLC lowered their price target on Snowflake from $280.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Truist Financial set a $125.00 price objective on Snowflake in a report on Wednesday, April 15th. Scotiabank lowered their target price on Snowflake from $290.00 to $205.00 and set a “sector outperform” rating for the company in a report on Thursday, February 26th. Stifel Nicolaus set a $205.00 target price on Snowflake in a research report on Thursday, February 26th. Finally, Citigroup cut their price target on shares of Snowflake from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $242.19.

Snowflake Stock Down 7.3%

NYSE SNOW traded down $11.40 during trading hours on Thursday, hitting $144.17. 1,433,445 shares of the company were exchanged, compared to its average volume of 6,432,212. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18. The firm has a market cap of $49.84 billion, a price-to-earnings ratio of -36.64 and a beta of 1.23. The company has a 50 day moving average of $162.50 and a two-hundred day moving average of $207.06. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $280.67.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.30 EPS. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -2.16 earnings per share for the current year.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake pushed multiple AI product updates aimed at enterprise automation, expanding Snowflake Intelligence and Cortex Code to support agentic/agent-driven workflows — a strategic push that reinforces Snowflake’s position as an AI data cloud provider and underpins long‑term revenue potential. Snowflake Makes AI Real for Businesses at Snowflake Summit 26
• Positive Sentiment: Product details: updates to the AI platform and enterprise workflow support (including help for AI agents) were published across outlets, highlighting incremental product monetization opportunities. Snowflake updates AI platform for enterprise workflows
• Positive Sentiment: Bullish market signals: options buyers have been active recently and some retail option trades returned large gains — a sign of speculative bullish interest that can amplify intraday buying. How Subscribers Quadrupled Their Money On This ‘Buy the Dip’ Play
• Positive Sentiment: Positive media commentary: pundits including Jim Cramer praised CEO Sridhar Ramaswamy’s execution, which can support sentiment among growth investors. Jim Cramer on Snowflake
• Neutral Sentiment: Longer‑term context: commentary noting SNOW remains well below its IPO highs (historical perspective) — useful context but not an immediate catalyst. If You Bought Snowflake at Its IPO, You’re Still Down 41%
• Negative Sentiment: Legal risk surge: multiple law firms have filed or solicited lead‑plaintiff roles in securities class actions alleging misstatements about consumption, product efficiency and undisclosed headwinds for the June 27, 2023–Feb 28, 2024 period — and several firms are pressing an April 27 lead‑plaintiff deadline. This cluster of notices is the primary driver of today’s negative price move as it raises potential litigation costs, distraction risk, and uncertainty. SNOW Investors Have Opportunity to Lead Snowflake Inc Securities Fraud Lawsuit SUEWALLST: SNOW Consumption Headwinds Allegedly Hid Revenue Risks

Insider Activity

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total value of $1,650,100.00. Following the sale, the executive vice president directly owned 510,477 shares in the company, valued at approximately $84,233,809.77. This trade represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $176.91, for a total transaction of $17,691,000.00. Following the sale, the director directly owned 50,329 shares of the company’s stock, valued at approximately $8,903,703.39. This trade represents a 66.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 394,313 shares of company stock worth $67,477,780 over the last three months. 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.