Wasatch Advisors LP purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 45,831 shares of the company’s stock, valued at approximately $11,664,000.
Several other hedge funds have also recently bought and sold shares of SNOW. Vanguard Group Inc. boosted its position 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 acquiring an additional 1,448,094 shares during the period. Jennison Associates LLC increased its holdings 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 valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Nuveen LLC increased its holdings in shares of Snowflake by 2.3% in the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC lifted its position in shares of Snowflake by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after purchasing an additional 249,668 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $974,091,000. 65.10% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Snowflake news, Director Mark Garrett sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the transaction, the director directly owned 8,801 shares in the company, valued at $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 50,338 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 value of $12,343,380.98. Following the completion of the sale, the director directly owned 27,716 shares of the company’s stock, valued at $6,796,240.36. This represents a 64.49% 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 2,172,001 shares of company stock worth $535,037,959. 4.80% of the stock is owned by corporate insiders.
Snowflake Trading Down 0.2%
Snowflake (NYSE:SNOW – Get Free Report) last posted its 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. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company’s revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. On average, research analysts forecast that Snowflake Inc. will post -1.84 EPS for the current fiscal year.
Key Snowflake News
Here are the key news stories impacting Snowflake this week:
- Positive Sentiment: Analyst sees AI as a stronger growth catalyst: Oppenheimer reportedly revised its Snowflake outlook for 2026, highlighting an AI tool as an increasingly important driver of future growth. The view supports the bull case that Snowflake’s AI Data Cloud can expand usage and customer spending. Oppenheimer Revamps Snowflake Stock Target For 2026
- Positive Sentiment: AI ecosystem and security strategy are expanding: Snowflake’s Cortex AI Gateway is designed to govern, secure and orchestrate internal and third-party AI agents. New integrations involving Alteryx, Aembit and 1Password, along with broader efforts to connect fragmented data pipelines, could strengthen Snowflake’s competitive position in enterprise AI and encourage additional platform adoption. Snowflake AI Security Push Snowflake Moves Enterprise AI Beyond Fragmented Data Pipelines
- Neutral Sentiment: Insider selling adds a sentiment overhang, but was pre-planned: Director Michael Speiser sold approximately $16.4 million of shares, while EVP Christian Kleinerman sold about $9.75 million. Both transactions were executed under Rule 10b5-1 trading plans, reducing their significance as a direct signal about current business conditions; however, the sizable sales may weigh on investor sentiment after SNOW’s strong rally. Snowflake Insider Trading Filing
- Negative Sentiment: Data-breach litigation risk has increased: Credit unions won another round in a case involving a Snowflake-related data breach. Further proceedings could create legal costs, reputational damage and additional uncertainty around Snowflake’s security controls, although the ultimate financial impact has not been determined. Credit Unions Win Round Against Snowflake in Data Breach Case
Wall Street Analysts Forecast Growth
Several analysts recently commented on SNOW shares. Rosenblatt Securities raised their price target on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Oppenheimer increased their target price on shares of Snowflake from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday. KeyCorp lifted their target price on shares of Snowflake from $285.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. The Goldman Sachs Group boosted their price target on shares of Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Benchmark upped their price target on shares of Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Thirty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.84.
Check Out Our Latest Stock Analysis 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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