Snowflake Inc. $SNOW Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 33.7% in the third quarter, HoldingsChannel.com reports. The firm owned 8,138 shares of the company’s stock after selling 4,130 shares during the period. SBI Securities Co. Ltd.’s holdings in Snowflake were worth $2,763,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reyes Financial Architecture Inc. purchased a new position in shares of Snowflake during the third quarter valued at approximately $32,000. Axxcess Wealth Management LLC bought a new stake in Snowflake during the third quarter worth $232,000. Crossmark Global Holdings Inc. grew its holdings in Snowflake by 15.0% during the third quarter. Crossmark Global Holdings Inc. now owns 3,604 shares of the company’s stock worth $1,224,000 after buying an additional 471 shares in the last quarter. Income Insurance Ltd grew its holdings in Snowflake by 10.7% during the third quarter. Income Insurance Ltd now owns 1,037 shares of the company’s stock worth $352,000 after buying an additional 100 shares in the last quarter. Finally, Sowell Financial Services LLC raised its position in Snowflake by 22.0% in the 3rd quarter. Sowell Financial Services LLC now owns 3,042 shares of the company’s stock valued at $1,033,000 after buying an additional 549 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 300,000 shares of Snowflake stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $316.43, for a total value of $94,929,000.00. Following the completion of the transaction, the director owned 19,024 shares in the company, valued at $6,019,764.32. This trade represents a 94.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total transaction of $253,951.80. Following the completion of the sale, the executive directly owned 211,619 shares in the company, valued at approximately $71,180,166.84. This trade represents a 0.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,246,429 shares of company stock valued at $408,832,628. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SNOW. Benchmark raised their price objective on Snowflake from $290.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Scotiabank reaffirmed a “sector outperform” rating and set a $440.00 price objective (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. KeyCorp upped their target price on shares of Snowflake from $285.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Needham & Company LLC reiterated a “buy” rating and issued a $450.00 target price on shares of Snowflake in a report on Monday, October 12th. Finally, Royal Bank Of Canada increased their target price on shares of Snowflake from $372.00 to $440.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Thirty-six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.87.

Snowflake Stock Performance

Shares of SNOW opened at $325.26 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $114.75 billion, a PE ratio of -102.28 and a beta of 1.35. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The stock’s fifty day moving average price is $331.76 and its two-hundred day moving average price is $260.74.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities research analysts forecast that Snowflake Inc. will post -1.44 EPS for the current year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Cloud software shares are rebounding, providing a favorable sector backdrop for Snowflake. Investors are focusing on demand for cloud infrastructure, data analytics and application security. Cloud Stocks Rebound
• Positive Sentiment: New partnerships with Adstra, Lumen Technologies and ATTOM are expanding use of Snowflake’s AI Data Cloud across marketing, networking, property data and secure AI workloads. Greater integration could increase customer usage and consumption-based revenue over time. Snowflake AI Partnerships
• Positive Sentiment: Recent commentary from analysts and investment managers highlights Snowflake’s AI momentum, accelerating product adoption and potential to benefit from a multiyear enterprise AI spending cycle. Some analysts view SNOW as a more attractive enterprise AI opportunity than Broadcom or Salesforce. Snowflake Versus Broadcom
• Neutral Sentiment: Comparisons with Salesforce frame Snowflake as the faster-growing, specialized data-cloud company, while Salesforce offers greater profitability and scale. The debate may attract investors but does not create an immediate change to Snowflake’s outlook. Salesforce Versus Snowflake
• Negative Sentiment: Coverage questioning whether Snowflake is fully valued points to recent share-price momentum and the risk that substantial AI expectations are already reflected in the stock. Investors may require evidence that partnerships translate into sustained revenue and earnings growth. Is Snowflake Fully Valued?
• Negative Sentiment: Director Frank Slootman sold 300,000 shares worth approximately $94.9 million, reducing his stake by 94%. The transaction was made under a pre-arranged Rule 10b5-1 plan, limiting its signaling value, but the size of the sale may weigh on sentiment. Slootman Insider Sale

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.