Huntington National Bank Acquires 22,656 Shares of Snowflake Inc. $SNOW

Huntington National Bank lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 7.7% in the 4th quarter, HoldingsChannel reports. The fund owned 315,371 shares of the company’s stock after purchasing an additional 22,656 shares during the period. Huntington National Bank’s holdings in Snowflake were worth $69,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Vanguard Group Inc. grew its position in Snowflake by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after purchasing an additional 1,448,094 shares in the last quarter. Jennison Associates LLC grew its position in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares in the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 249,668 shares in the last quarter. American Century Companies Inc. grew its position in Snowflake by 233.3% in the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after purchasing an additional 1,473,354 shares in the last quarter. Finally, Northern Trust Corp grew its position in Snowflake by 2.7% in the 3rd quarter. Northern Trust Corp now owns 2,089,150 shares of the company’s stock worth $471,208,000 after purchasing an additional 55,683 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of Snowflake from $235.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. TD Cowen reaffirmed a “buy” rating on shares of Snowflake in a research report on Friday, May 22nd. Sanford C. Bernstein reduced their price objective on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a research report on Thursday, February 26th. Cantor Fitzgerald reduced their price objective on shares of Snowflake from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.51.

Snowflake Stock Down 1.7%

SNOW opened at $174.60 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18. The stock has a market cap of $60.36 billion, a price-to-earnings ratio of -44.20 and a beta of 1.08. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $280.67. The company’s 50-day moving average price is $153.75 and its two-hundred day moving average price is $190.65.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The company’s quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -2.16 earnings per share for the current year.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake beat first-quarter expectations, reporting $0.39 EPS versus the $0.32 consensus and revenue of $1.39 billion versus $1.32 billion expected. Snowflake Reports Financial Results for the First Quarter of Fiscal 2027
• Positive Sentiment: The company raised its annual product revenue forecast, signaling stronger demand from enterprise AI workloads and cloud migrations. Snowflake raises annual product revenue forecast as enterprises ramp up AI workloads
• Positive Sentiment: Snowflake announced a $6 billion, five-year strategic collaboration with AWS, including use of Amazon’s Graviton processors and AI infrastructure, which investors see as a major growth driver for its AI platform. Snowflake Expands AWS Collaboration with $6B Commitment to Accelerate Enterprise Agentic AI Adoption
• Positive Sentiment: Management said AI is becoming a clear tailwind, with product revenue growth accelerating and the quarter marking a potential inflection point in demand. Snowflake Reports Financial Results for the First Quarter of Fiscal 2027
• Neutral Sentiment: Snowflake also announced plans to acquire Natoma to strengthen secure connectivity and governance for AI agents, a strategic move that may support longer-term platform adoption. Snowflake Announces Intent to Acquire Natoma, Providing Secure Connectivity For The Agentic Enterprise
• Negative Sentiment: A newly filed securities class action lawsuit could create headline risk and some investor overhang, though it appears unrelated to the latest operating results. Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Snowflake, Inc. (SNOW)

Insider Activity at Snowflake

In related news, SVP Vivek Raghunathan sold 3,876 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $152.80, for a total transaction of $592,252.80. Following the sale, the senior vice president directly owned 273,323 shares in the company, valued at approximately $41,763,754.40. This represents a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $175.19, for a total transaction of $8,818,714.22. Following the sale, the director owned 30,236 shares in the company, valued at $5,297,044.84. The trade was a 62.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 428,963 shares of company stock valued at $71,996,216 in the last three months. 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.