Clearbridge Investments LLC Has $227.19 Million Position in Snowflake Inc. $SNOW

Clearbridge Investments LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,035,695 shares of the company’s stock after selling 36,996 shares during the period. Clearbridge Investments LLC’s holdings in Snowflake were worth $227,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNOW. GoalVest Advisory LLC boosted its stake in Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in shares of Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares during the period. HHM Wealth Advisors LLC lifted its stake in shares of Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares during the period. Ameriflex Group Inc. lifted its stake in shares of Snowflake by 252.2% during the third quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after acquiring an additional 116 shares during the period. Finally, JPL Wealth Management LLC acquired a new position in shares of Snowflake during the third quarter valued at $39,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Down 0.1%

Shares of Snowflake stock opened at $238.12 on Monday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The business has a 50-day moving average of $165.25 and a two-hundred day moving average of $190.11. The company has a market capitalization of $82.53 billion, a P/E ratio of -67.65 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, equities analysts predict that Snowflake Inc. will post -1.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNOW shares. Citigroup increased their target price on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. KeyCorp set a $295.00 target price on Snowflake in a research note on Thursday, May 28th. Royal Bank Of Canada increased their target price on Snowflake from $220.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. BTIG Research increased their target price on Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC increased their target price on Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have assigned 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 $290.87.

Insider Buying and Selling

In related news, Director Frank Slootman sold 437,076 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the transaction, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,538,672 shares of company stock worth $346,816,863. 4.80% of the stock is owned by corporate insiders.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

About Snowflake

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.