Clear Harbor Asset Management LLC Takes $650,000 Position in Snowflake Inc. $SNOW

Clear Harbor Asset Management LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,963 shares of the company’s stock, valued at approximately $650,000.

Several other hedge funds have also recently added to or reduced their stakes in SNOW. Norges Bank acquired a new stake in shares of Snowflake in the 4th quarter valued at $974,091,000. Jennison Associates LLC grew its stake in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares in the last quarter. Coatue Management LLC purchased a new position in Snowflake in the third quarter valued at $441,277,000. American Century Companies Inc. increased its holdings in Snowflake by 233.3% in the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock valued at $474,766,000 after buying an additional 1,473,354 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after buying an additional 1,448,094 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other news, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 5,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $236.77, for a total transaction of $1,183,850.00. Following the sale, the executive vice president owned 528,494 shares of the company’s stock, valued at $125,131,524.38. This trade represents a 0.94% 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. Insiders have sold 1,416,489 shares of company stock worth $310,023,119 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake unveiled new AI and governance capabilities across Horizon Catalog, CoWork, and CoCo, reinforcing its position as a core enterprise AI platform and improving its long-term growth story.
• Positive Sentiment: Major enterprise adopters and partners, including Thomson Reuters and Sanofi, highlighted real-world use cases for Snowflake-powered AI, which supports demand visibility and validates the platform’s appeal to large customers.
• Positive Sentiment: Snowflake’s ecosystem momentum is building, with partners such as Anthropic, Redpoint, Trust3 AI, and numerous Snowflake Partner of the Year award winners showcasing expanding adoption around the Snowflake AI Data Cloud.
• Positive Sentiment: Recent analyst and media coverage has been constructive, with commentary suggesting Snowflake’s earnings beat and reaccelerating growth could support further upside after the post-earnings surge.
• Neutral Sentiment: Snowflake also drew attention for insider sales by directors, which may temper enthusiasm a bit, though the transactions were disclosed and one was tied to a pre-arranged trading plan.
• Neutral Sentiment: Some articles noted that after the recent run-up, valuation may be demanding and future gains could depend on continued execution rather than multiple expansion alone.

Snowflake Trading Down 6.7%

SNOW opened at $261.29 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The business’s 50 day moving average is $158.80 and its two-hundred day moving average is $190.47. The firm has a market cap of $90.33 billion, a price-to-earnings ratio of -74.23 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company’s revenue was up 33.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share. On average, research analysts predict that Snowflake Inc. will post -2.15 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Snowflake in a report on Thursday, May 28th. BTIG Research raised their target price on Snowflake from $235.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Canaccord Genuity Group boosted their target price on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. HSBC set a $289.00 price target on Snowflake and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Sanford C. Bernstein increased their price target on shares of Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.38.

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.