Swedbank AB Boosts Position in Snowflake Inc. $SNOW

Swedbank AB increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,649,771 shares of the company’s stock after acquiring an additional 319,356 shares during the quarter. Swedbank AB owned approximately 0.48% of Snowflake worth $248,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SNOW. Kiley Juergens Wealth Management LLC acquired a new stake in shares of Snowflake during the 1st quarter worth about $279,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Snowflake by 26.1% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 29,000 shares of the company’s stock valued at $4,374,000 after buying an additional 6,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Snowflake by 14.1% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 27,513 shares of the company’s stock worth $4,110,000 after buying an additional 3,393 shares during the period. Whittier Trust Co. boosted its stake in Snowflake by 15.1% during the first quarter. Whittier Trust Co. now owns 66,871 shares of the company’s stock worth $9,989,000 after buying an additional 8,759 shares during the period. Finally, Marietta Investment Partners LLC increased its position in shares of Snowflake by 67.8% during the first quarter. Marietta Investment Partners LLC now owns 15,539 shares of the company’s stock valued at $2,344,000 after acquiring an additional 6,278 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Negative Sentiment: Multiple insiders sold shares, including Director Teresa Briggs selling 343 shares at about $255.11 and EVP Christian Kleinerman selling 2,500 shares for about $646,400. While the trades were made under pre-arranged 10b5-1 plans, insider selling can still pressure sentiment. Article Title
• Neutral Sentiment: Interactive Data, LLC said it is putting select identity data on the Snowflake Marketplace, with Cortex AI enabling natural-language analytics. This supports Snowflake’s AI/data-platform narrative and could help long-term adoption, but the immediate financial impact is not yet clear. Article Title
• Neutral Sentiment: A separate article highlighted Snowflake as one of BlackRock’s important AI holdings and pointed to the company’s expansion into Chile, reinforcing the growth story but not adding a near-term catalyst by itself. Article Title
• Neutral Sentiment: Recent earnings and analyst commentary remain supportive: Snowflake beat expectations last quarter, and several firms have raised price targets, with a consensus “Moderate Buy” view. That backdrop helps explain why the shares have stayed strong despite the insider sales. Article Title

Wall Street Analyst Weigh In

SNOW has been the topic of a number of research analyst reports. Benchmark boosted their price target on shares of Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. lifted their target price on shares of Snowflake from $245.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. KeyCorp set a $295.00 target price on Snowflake in a research report on Thursday, May 28th. Morgan Stanley upped their price target on Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, Loop Capital raised their price target on Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $293.53.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 2,500 shares of Snowflake stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total value of $646,400.00. Following the completion of the transaction, the executive vice president directly owned 397,879 shares in the company, valued at approximately $102,875,594.24. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Teresa Briggs sold 343 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $255.11, for a total value of $87,502.73. Following the transaction, the director directly owned 5,060 shares of the company’s stock, valued at $1,290,856.60. The trade was a 6.35% decrease in their ownership of the stock. 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 1,751,274 shares of company stock valued at $408,653,013. 4.80% of the stock is owned by company insiders.

Snowflake Stock Up 2.9%

Shares of SNOW stock traded up $7.50 during trading on Tuesday, reaching $269.59. The company’s stock had a trading volume of 1,840,995 shares, compared to its average volume of 7,418,848. 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 company has a market capitalization of $93.44 billion, a price-to-earnings ratio of -76.54 and a beta of 1.35. The stock’s 50-day moving average price is $205.08 and its 200 day moving average price is $190.58. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) 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 company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. On average, research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current year.

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.