Pinebridge Investments LLC Makes New $5.26 Million Investment in Snowflake Inc. $SNOW

Pinebridge Investments LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 23,973 shares of the company’s stock, valued at approximately $5,259,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC increased its stake in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. Ameriflex Group Inc. increased its stake in shares of Snowflake by 252.2% in the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after acquiring an additional 116 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at about $39,000. 65.10% of the stock is owned by institutional investors.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the transaction, the director directly owned 29,396 shares in the company, valued at approximately $4,356,781.16. The trade was a 63.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the transaction, the director owned 8,801 shares of the company’s stock, valued at $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,538,672 shares of company stock worth $346,816,863. 4.80% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of SNOW opened at $238.12 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $165.25 and a 200 day simple moving average of $190.11. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The firm has a market capitalization of $82.53 billion, a PE ratio of -67.65 and a beta of 1.35.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the firm earned $0.24 EPS. Snowflake’s quarterly revenue was up 33.5% compared to the same quarter last year. Sell-side analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SNOW shares. BTIG Research upped their price target on Snowflake from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. UBS Group set a $320.00 price target on Snowflake in a research note on Wednesday. Zacks Research raised Snowflake from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Oppenheimer upped their price target on Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Finally, Evercore set a $200.00 price target on Snowflake in a research note on Tuesday, April 14th. One investment 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, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $290.87.

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.