Engineers Gate Manager LP reduced its holdings in Snowflake Inc. (NYSE:SNOW – Free Report) by 57.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 88,541 shares of the company’s stock after selling 117,975 shares during the quarter. Engineers Gate Manager LP’s holdings in Snowflake were worth $19,422,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in Snowflake during the fourth quarter worth $28,000. Greenline Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth $29,000. GoalVest Advisory LLC raised its holdings in Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Snowflake news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $245.21, for a total transaction of $98,819.63. Following the completion of the sale, the director owned 22,106 shares of the company’s stock, valued at approximately $5,420,612.26. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 8,066 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total value of $1,935,840.00. Following the sale, the director directly owned 28,535 shares of the company’s stock, valued at approximately $6,848,400. This trade represents a 22.04% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,493,618 shares of company stock valued at $343,531,621 in the last 90 days. 4.80% of the stock is owned by corporate insiders.
Key Stories Impacting Snowflake
- Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
- Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
- Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
- Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
- Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
- Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article
Snowflake Price Performance
SNOW stock opened at $234.24 on Thursday. The stock has a 50-day moving average price of $178.86 and a two-hundred day moving average price of $189.60. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The company has a market cap of $81.19 billion, a PE ratio of -66.55 and a beta of 1.35.
Snowflake (NYSE:SNOW – Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -1.87 EPS for the current year.
Wall Street Analysts Forecast Growth
SNOW has been the subject of a number of analyst reports. Wedbush boosted their price target on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Truist Financial boosted their price target on Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Piper Sandler boosted their price target on Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $291.77.
View Our Latest Stock Report on Snowflake
Snowflake Company 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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