Meridian Wealth Management LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 3,496 shares of the company’s stock, valued at approximately $767,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after buying an additional 1,448,094 shares during the period. Jennison Associates LLC raised its position in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares in the last quarter. American Century Companies Inc. raised its position in shares of Snowflake by 233.3% in the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after acquiring an additional 1,473,354 shares in the last quarter. Northern Trust Corp raised its position in shares of Snowflake by 2.7% in the 3rd quarter. Northern Trust Corp now owns 2,089,150 shares of the company’s stock worth $471,208,000 after acquiring an additional 55,683 shares in the last quarter. Finally, Coatue Management LLC bought a new position in shares of Snowflake in the 3rd quarter worth about $441,277,000. 65.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SNOW has been the subject of several research analyst reports. Mizuho lowered their price objective on Snowflake from $285.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Canaccord Genuity Group lowered their price objective on Snowflake from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Piper Sandler lowered their price objective on Snowflake from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. KeyCorp lowered their price objective on Snowflake from $235.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, April 15th. Finally, Sanford C. Bernstein lowered their price objective on Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a research report on Thursday, February 26th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.19.
Snowflake Stock Performance
Shares of SNOW opened at $150.51 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50 day moving average price of $155.24 and a two-hundred day moving average price of $197.01. The firm has a market capitalization of $52.03 billion, a P/E ratio of -38.10 and a beta of 1.08. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $280.67.
Snowflake (NYSE:SNOW – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Equities analysts forecast that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.
Trending Headlines about Snowflake
Here are the key news stories impacting Snowflake this week:
- Positive Sentiment: Snowflake’s AI Data Cloud continues to gain traction, with recent reports highlighting 30% product revenue growth, stronger adoption of Snowflake Intelligence and Cortex Code, and rising analyst optimism that AI usage is strengthening the company’s growth outlook.
- Positive Sentiment: New ecosystem partnerships are reinforcing the investment case, including Blend achieving Snowflake Elite Partner Status and launching integrated AI solutions, plus ManageMy integrating with Snowflake to improve reporting for insurance carriers. These deals suggest broader enterprise adoption of Snowflake’s platform.
- Positive Sentiment: Wall Street commentary is becoming more constructive, with coverage noting that rising AI traction could support stronger results and that Snowflake’s public-sector push may open another growth channel.
- Neutral Sentiment: Several recent articles remain mixed in tone, including debate over Snowflake’s valuation and whether the stock’s rebound can continue after a sharp prior decline. These views may influence trading, but they do not change the company’s underlying business results.
- Negative Sentiment: Sentiment was weighed down by an article arguing Snowflake should be sold until expenses improve and margins advance, while another report noted insiders sold about $11 million in stock over the past year, which can signal internal caution.
Insider Activity
In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $152.80, for a total transaction of $592,252.80. Following the completion of the sale, the senior vice president directly owned 273,323 shares of the company’s stock, valued at approximately $41,763,754.40. The trade was a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Emily Ho sold 2,141 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $173.97, for a total value of $372,469.77. Following the sale, the chief accounting officer directly owned 44,553 shares of the company’s stock, valued at $7,750,885.41. This represents a 4.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 384,313 shares of company stock worth $64,308,373. 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.
Read More
- Five stocks we like better than Snowflake
- YETI Rallies After Earnings Beat and Raised Outlook
- How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
- Cisco’s Vertical Rally May Still Be in the Early Innings
- Amazon vs. Alibaba: One Is Clearly The Better Value Play right Now
Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW – Free Report).
Receive News & Ratings for Snowflake Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snowflake and related companies with MarketBeat.com's FREE daily email newsletter.
