Proficio Capital Partners LLC Purchases Shares of 1,525 Snowflake Inc. $SNOW

Proficio Capital Partners LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 2nd quarter, HoldingsChannel reports. The firm purchased 1,525 shares of the company’s stock, valued at approximately $388,000.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC boosted its stake in Snowflake by 2.3% during the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock valued at $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC increased its position in Snowflake by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after buying an additional 249,668 shares during the period. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter worth approximately $974,091,000. Janus Henderson Group PLC lifted its holdings in shares of Snowflake by 22.2% during the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock worth $452,014,000 after buying an additional 544,960 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Snowflake by 14.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,669,997 shares of the company’s stock valued at $585,691,000 after acquiring an additional 331,405 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 16.7%

Shares of Snowflake stock opened at $356.78 on Friday. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The stock has a market capitalization of $123.66 billion, a P/E ratio of -112.19 and a beta of 1.33. The company has a 50-day simple moving average of $295.85 and a 200 day simple moving average of $219.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Research analysts expect that Snowflake Inc. will post -1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNOW. Weiss Ratings lowered shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Cantor Fitzgerald raised their price target on shares of Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday. Wedbush raised their price target on shares of Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Evercore reaffirmed an “outperform” rating and set a $430.00 price objective on shares of Snowflake in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Snowflake in a research note on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $410.19.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the completion of the sale, the executive vice president directly owned 18,568 shares of the company’s stock, valued at $7,055,840. This trade represents a 35.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Speiser sold 403 shares of Snowflake stock in a transaction on Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $130,596.18. Following the completion of the transaction, the director owned 22,573 shares of the company’s stock, valued at approximately $7,315,006.38. The trade was a 1.75% 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. Insiders have sold a total of 1,131,160 shares of company stock worth $317,966,701 in the last three months. Insiders own 4.80% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong earnings beat and accelerating growth: Snowflake reported adjusted earnings of $0.62 per share, ahead of the $0.45 consensus estimate, while revenue rose 35.1% year over year to $1.55 billion, topping the $1.48 billion forecast. Product revenue increased 37% to approximately $1.49 billion. Snowflake spikes on healthy results and AI coding momentum
• Positive Sentiment: AI demand is becoming a growth catalyst: Management said AI contributed about half of the company’s outperformance, with adoption of its CoCo AI coding agent adding more than 2,000 accounts. Broad-based demand across customers, workloads and geographies further strengthened the growth outlook. Snowflake Stock Soars as Surging AI Demand Boosts Earnings
• Positive Sentiment: Raised guidance: Snowflake lifted fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion, signaling that cloud consumption and AI-related demand are exceeding prior expectations. The company also remains on track to reach break-even next year, according to CEO Sridhar Ramaswamy.
• Positive Sentiment: Analysts turned more bullish: JPMorgan, UBS, Citi, TD Cowen, Bank of America and several other firms raised price targets, with targets reaching as high as $500 and ratings including Buy, Overweight and Market Outperform. Wall Street analyst views

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.