Proficio Capital Partners LLC Purchases Shares of 1,525 Snowflake Inc. $SNOW

Proficio Capital Partners LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,525 shares of the company’s stock, valued at approximately $388,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Nuveen LLC grew its position in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after buying an additional 116,521 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Snowflake by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after acquiring an additional 249,668 shares during the last quarter. Norges Bank acquired a new stake in shares of Snowflake during the 4th quarter valued at $974,091,000. Janus Henderson Group PLC boosted its stake in shares of Snowflake by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after acquiring an additional 544,960 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Snowflake by 14.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,669,997 shares of the company’s stock worth $585,691,000 after acquiring an additional 331,405 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 16.7%

Shares of Snowflake stock opened at $356.78 on Friday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The company has a market cap of $123.66 billion, a P/E ratio of -112.19 and a beta of 1.33. 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 stock has a 50-day moving average price of $295.85 and a 200 day moving average price of $219.50.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. As a group, analysts expect that Snowflake Inc. will post -1.81 EPS for the current fiscal year.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong earnings beat and accelerating growth: Snowflake reported adjusted earnings of $0.62 per share, ahead of the $0.45 consensus estimate, while revenue rose 35.1% year over year to $1.55 billion, topping the $1.48 billion forecast. Product revenue increased 37% to approximately $1.49 billion. Snowflake spikes on healthy results and AI coding momentum
• Positive Sentiment: AI demand is becoming a growth catalyst: Management said AI contributed about half of the company’s outperformance, with adoption of its CoCo AI coding agent adding more than 2,000 accounts. Broad-based demand across customers, workloads and geographies further strengthened the growth outlook. Snowflake Stock Soars as Surging AI Demand Boosts Earnings
• Positive Sentiment: Raised guidance: Snowflake lifted fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion, signaling that cloud consumption and AI-related demand are exceeding prior expectations. The company also remains on track to reach break-even next year, according to CEO Sridhar Ramaswamy.
• Positive Sentiment: Analysts turned more bullish: JPMorgan, UBS, Citi, TD Cowen, Bank of America and several other firms raised price targets, with targets reaching as high as $500 and ratings including Buy, Overweight and Market Outperform. Wall Street analyst views

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen increased their price target on Snowflake from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird set a $450.00 price objective on Snowflake in a report on Thursday. Weiss Ratings lowered shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $450.00 target price (up from $320.00) on shares of Snowflake in a report on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $410.19.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 289,685 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $274.39, for a total transaction of $79,486,667.15. Following the completion of the sale, the director owned 28,535 shares in the company, valued at approximately $7,829,718.65. This represents a 91.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $16,312,532.28. Following the transaction, the director directly owned 26,036 shares in the company, valued at approximately $8,437,226.16. This represents a 65.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,131,160 shares of company stock valued at $317,966,701 over the last three months. 4.80% of the stock is currently owned by insiders.

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.