Snowflake Inc. $SNOW Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 10.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 31,851 shares of the company’s stock after selling 3,679 shares during the period. Cibc World Market Inc.’s holdings in Snowflake were worth $6,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC increased its holdings in shares of Snowflake by 6.6% during the 4th quarter. Sivia Capital Partners LLC now owns 7,119 shares of the company’s stock valued at $1,562,000 after purchasing an additional 440 shares in the last quarter. Marietta Investment Partners LLC increased its holdings in shares of Snowflake by 11.6% during the 4th quarter. Marietta Investment Partners LLC now owns 9,261 shares of the company’s stock valued at $2,031,000 after purchasing an additional 966 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Snowflake by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 15,049 shares of the company’s stock valued at $3,301,000 after purchasing an additional 861 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in shares of Snowflake by 10.3% during the 4th quarter. Dynasty Wealth Management LLC now owns 1,255 shares of the company’s stock valued at $275,000 after purchasing an additional 117 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Snowflake by 8.6% during the 4th quarter. Natixis Advisors LLC now owns 24,638 shares of the company’s stock valued at $5,405,000 after purchasing an additional 1,952 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake News Roundup

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 Price Performance

Snowflake stock opened at $238.12 on Monday. The company’s fifty day moving average price is $165.25 and its 200 day moving average price is $190.11. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The stock 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 quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW) last announced its 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 net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNOW. DA Davidson lifted their target price on shares of Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Scotiabank reissued an “outperform” rating on shares of Snowflake in a research note on Thursday, May 28th. Wedbush lifted their price target on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Evercore set a $200.00 price target on shares of Snowflake in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Snowflake from $216.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. One equities 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.87.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.00, for a total transaction of $2,720,000.00. Following the sale, the executive vice president owned 418,494 shares of the company’s stock, valued at $113,830,368. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 Snowflake stock in a transaction on Monday, June 1st. The stock was sold at an average price of $263.70, for a total transaction of $42,963,058.80. Following the sale, the director directly owned 38,046 shares in the company, valued at approximately $10,032,730.20. This trade represents a 81.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,538,672 shares of company stock worth $346,816,863. Company insiders own 4.80% of the company’s stock.

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.