Altimeter Capital Management LP Reduces Position in Snowflake Inc. $SNOW

Altimeter Capital Management LP decreased its position in Snowflake Inc. (NYSE:SNOW) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,027,604 shares of the company’s stock after selling 400,780 shares during the quarter. Snowflake makes up approximately 6.7% of Altimeter Capital Management LP’s portfolio, making the stock its 6th largest holding. Altimeter Capital Management LP owned 0.59% of Snowflake worth $444,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SNOW. Kemnay Advisory Services Inc. bought a new position in Snowflake during the fourth quarter worth $28,000. Greenline Wealth Management LLC bought a new position in Snowflake during the fourth quarter worth $29,000. GoalVest Advisory LLC increased its position in Snowflake by 221.4% during the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock worth $30,000 after acquiring an additional 93 shares during the period. Physician Wealth Advisors Inc. increased its position in Snowflake by 56.0% during the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock worth $31,000 after acquiring an additional 51 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the period. Institutional investors own 65.10% of the company’s stock.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Snowflake Stock Down 1.7%

SNOW opened at $234.24 on Thursday. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $178.86 and its two-hundred day moving average price is $189.60. The company has a market capitalization of $81.19 billion, a P/E ratio of -66.55 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted 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 net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s revenue was up 33.5% compared to the same quarter last year. On average, analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Activity

In other Snowflake news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $98,819.63. Following the sale, the director owned 22,106 shares in the company, valued at $5,420,612.26. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,986 shares of Snowflake stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total transaction of $716,640.00. Following the sale, the executive vice president owned 405,652 shares in the company, valued at $97,356,480. This represents a 0.73% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 1,493,618 shares of company stock valued at $343,531,621. 4.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNOW. Canaccord Genuity Group boosted their target price on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. HSBC set a $289.00 target price on shares of Snowflake and gave the stock a “buy” rating in a research report on Friday, May 29th. Stifel Nicolaus boosted their target price on shares of Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of Snowflake from $245.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Truist Financial boosted their target price on shares of Snowflake from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $291.77.

Snowflake Company 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.