Washington Trust Advisors Inc. Has $14.13 Million Holdings in Snowflake Inc. $SNOW

Washington Trust Advisors Inc. decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 7.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 55,518 shares of the company’s stock after selling 4,502 shares during the quarter. Snowflake accounts for 1.0% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 24th biggest holding. Washington Trust Advisors Inc.’s holdings in Snowflake were worth $14,129,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SNOW. Norges Bank bought a new position in shares of Snowflake in the fourth quarter valued at approximately $974,091,000. Jericho Capital Asset Management L.P. bought a new stake in Snowflake during the fourth quarter worth $345,619,000. William Blair Investment Management LLC grew its holdings in Snowflake by 159.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company’s stock worth $295,477,000 after buying an additional 828,789 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Snowflake by 44.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock valued at $392,259,000 after buying an additional 803,110 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in Snowflake by 4,284.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company’s stock valued at $105,013,000 after buying an additional 680,397 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 0.4%

Shares of NYSE SNOW opened at $338.47 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The firm has a market capitalization of $117.31 billion, a PE ratio of -106.44 and a beta of 1.33. The firm has a fifty day simple moving average of $297.66 and a two-hundred day simple moving average of $220.60.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 35.1% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Equities analysts expect that Snowflake Inc. will post -1.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on SNOW shares. Loop Capital lifted their price objective on shares of Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Oppenheimer increased their target price on shares of Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a report on Thursday. Citizens Jmp raised their price target on shares of Snowflake from $408.00 to $488.00 and gave the company a “market outperform” rating in a research report on Thursday. Rosenblatt Securities boosted their price target on shares of Snowflake from $285.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Finally, Cantor Fitzgerald increased their price objective on Snowflake from $405.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday. Thirty-four 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 company. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average price target of $414.24.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total value of $3,800,000.00. Following the completion of the transaction, the executive vice president owned 18,568 shares of the company’s stock, valued at approximately $7,055,840. This represents a 35.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 48,990 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total value of $15,715,012.20. Following the completion of the transaction, the director owned 28,535 shares of the company’s stock, valued at approximately $9,153,457.30. The trade was a 63.19% 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 sold 1,131,160 shares of company stock worth $317,966,701 over the last three months. Company insiders own 4.80% of the company’s stock.

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.