Snowflake Inc. $SNOW Shares Acquired by Atreides Management LP

Atreides Management LP lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,754 shares of the company’s stock after buying an additional 9,209 shares during the quarter. Snowflake makes up approximately 1.3% of Atreides Management LP’s investment portfolio, making the stock its 12th largest position. Atreides Management LP owned approximately 0.14% of Snowflake worth $105,019,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SNOW. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after buying an additional 29,320 shares during the period. Intech Investment Management LLC raised its stake in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the period. Flow Traders U.S. LLC acquired a new position in shares of Snowflake during the 2nd quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Snowflake by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after buying an additional 1,521 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNOW shares. Raymond James Financial reaffirmed an “outperform” rating and set a $275.00 target price on shares of Snowflake in a research note on Thursday, May 28th. Morgan Stanley upped their target price on Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. UBS Group set a $320.00 target price on Snowflake in a research note on Wednesday, June 3rd. Loop Capital increased their price objective on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, TD Cowen reissued a “buy” rating and issued a $300.00 price objective on shares of Snowflake in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $291.77.

Snowflake Stock Down 1.7%

NYSE SNOW opened at $234.24 on Thursday. The business has a fifty day moving average price of $178.86 and a 200 day moving average price of $189.60. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. 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 company has a market cap of $81.19 billion, a P/E ratio of -66.55 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 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 firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 33.5% compared to the same quarter last year. Research analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 2,986 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total transaction of $716,640.00. Following the completion of the transaction, the executive vice president directly owned 405,652 shares in the company, valued at approximately $97,356,480. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Garrett sold 100,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,493,618 shares of company stock worth $343,531,621. 4.80% of the stock is currently owned by company insiders.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

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.