Deepwater Asset Management LLC Acquires New Shares in Snowflake Inc. $SNOW

Deepwater Asset Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,540 shares of the company’s stock, valued at approximately $4,725,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its holdings in shares of Snowflake by 10.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 37,603 shares of the company’s stock valued at $8,249,000 after acquiring an additional 3,530 shares in the last quarter. Fiera Capital Corp grew its stake in Snowflake by 33.0% in the fourth quarter. Fiera Capital Corp now owns 148,896 shares of the company’s stock valued at $32,662,000 after purchasing an additional 36,979 shares during the last quarter. Valtrion Capital Management LLC purchased a new position in Snowflake in the fourth quarter valued at about $252,000. Cookson Peirce & Co. Inc. grew its stake in Snowflake by 3,535.2% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 43,913 shares of the company’s stock valued at $9,633,000 after purchasing an additional 42,705 shares during the last quarter. Finally, Pinebridge Investments LLC purchased a new position in Snowflake in the fourth quarter valued at about $5,259,000. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $141.59, for a total transaction of $57,060.77. Following the sale, the director owned 22,509 shares in the company, valued at approximately $3,187,049.31. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 162,924 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $263.70, for a total value of $42,963,058.80. Following the sale, the director owned 38,046 shares in the company, valued at $10,032,730.20. The trade was a 81.07% 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 a total of 1,538,672 shares of company stock worth $346,816,863 over the last ninety days. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SNOW. KeyCorp set a $295.00 target price on Snowflake in a research note on Thursday, May 28th. Monness Crespi & Hardt lifted their target price on Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. TD Cowen reiterated a “buy” rating and issued a $300.00 target price on shares of Snowflake in a research note on Wednesday, June 3rd. Bank of America lifted their target price on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group lifted their target price on Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.87.

Snowflake Price Performance

Shares of SNOW stock opened at $238.12 on Monday. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The firm has a market capitalization of $82.53 billion, a price-to-earnings ratio of -67.65 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day simple moving average is $165.25 and its 200-day simple moving average is $190.11.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. As a group, equities analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Key Stories Impacting 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.

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.