Snowflake Inc. $SNOW Stock: Sterling Capital Management LLC Decreases Holdings

Sterling Capital Management LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 37.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,694 shares of the company’s stock after selling 5,783 shares during the quarter. Sterling Capital Management LLC’s holdings in Snowflake were worth $3,292,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Silicon Valley Capital Partners boosted its position in Snowflake by 15.2% during the second quarter. Silicon Valley Capital Partners now owns 62,087 shares of the company’s stock worth $15,801,000 after purchasing an additional 8,208 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Snowflake in the second quarter valued at approximately $1,399,000. Janney Montgomery Scott LLC increased its position in shares of Snowflake by 105.0% in the first quarter. Janney Montgomery Scott LLC now owns 92,937 shares of the company’s stock valued at $14,017,000 after buying an additional 47,601 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of Snowflake by 395.3% in the first quarter. Diversify Wealth Management LLC now owns 123,007 shares of the company’s stock valued at $17,371,000 after buying an additional 98,172 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Snowflake by 7.1% during the 1st quarter. Swiss National Bank now owns 944,600 shares of the company’s stock worth $142,465,000 after buying an additional 62,600 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE SNOW opened at $325.26 on Monday. The stock has a market cap of $114.75 billion, a PE ratio of -102.28 and a beta of 1.35. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The stock has a fifty day simple moving average of $331.76 and a 200-day simple moving average of $261.53.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Equities analysts anticipate that Snowflake Inc. will post -1.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SNOW shares. Oppenheimer increased their target price on Snowflake from $400.00 to $475.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. TD Cowen boosted their price target on shares of Snowflake from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Needham & Company LLC restated a “buy” rating and set a $450.00 price objective on shares of Snowflake in a research report on Monday, October 12th. Morgan Stanley increased their price objective on shares of Snowflake from $300.00 to $470.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Finally, Robert W. Baird set a $450.00 target price on shares of Snowflake in a research report on Thursday, September 3rd. Thirty-six 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $413.87.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Cloud software shares are rebounding, providing a favorable sector backdrop for Snowflake. Investors are focusing on demand for cloud infrastructure, data analytics and application security. Cloud Stocks Rebound
• Positive Sentiment: New partnerships with Adstra, Lumen Technologies and ATTOM are expanding use of Snowflake’s AI Data Cloud across marketing, networking, property data and secure AI workloads. Greater integration could increase customer usage and consumption-based revenue over time. Snowflake AI Partnerships
• Positive Sentiment: Recent commentary from analysts and investment managers highlights Snowflake’s AI momentum, accelerating product adoption and potential to benefit from a multiyear enterprise AI spending cycle. Some analysts view SNOW as a more attractive enterprise AI opportunity than Broadcom or Salesforce. Snowflake Versus Broadcom
• Neutral Sentiment: Comparisons with Salesforce frame Snowflake as the faster-growing, specialized data-cloud company, while Salesforce offers greater profitability and scale. The debate may attract investors but does not create an immediate change to Snowflake’s outlook. Salesforce Versus Snowflake
• Negative Sentiment: Coverage questioning whether Snowflake is fully valued points to recent share-price momentum and the risk that substantial AI expectations are already reflected in the stock. Investors may require evidence that partnerships translate into sustained revenue and earnings growth. Is Snowflake Fully Valued?
• Negative Sentiment: Director Frank Slootman sold 300,000 shares worth approximately $94.9 million, reducing his stake by 94%. The transaction was made under a pre-arranged Rule 10b5-1 plan, limiting its signaling value, but the size of the sale may weigh on sentiment. Slootman Insider Sale

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 25,000 shares of Snowflake stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the completion of the sale, the executive vice president directly owned 340,379 shares in the company, valued at $110,623,175. This trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $324.06, for a total transaction of $16,312,532.28. Following the completion of the sale, the director directly owned 26,036 shares in the company, valued at $8,437,226.16. This trade represents a 65.91% 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 three months, insiders sold 1,246,429 shares of company stock worth $408,832,628. 4.80% of the stock is owned by corporate insiders.

Snowflake Company Profile

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.