Massachusetts Financial Services Co. MA Acquires 1,217,350 Shares of Snowflake Inc. $SNOW

Massachusetts Financial Services Co. MA raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 445.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,490,569 shares of the company’s stock after buying an additional 1,217,350 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Snowflake were worth $326,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Snowflake by 3.1% during the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after acquiring an additional 857,832 shares during the period. Jennison Associates LLC raised its holdings in Snowflake by 13.5% during the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock valued at $2,048,871,000 after acquiring an additional 1,083,222 shares during the period. AQR Capital Management LLC raised its holdings in Snowflake by 13.0% during the second quarter. AQR Capital Management LLC now owns 3,584,128 shares of the company’s stock valued at $802,020,000 after acquiring an additional 412,493 shares during the period. American Century Companies Inc. increased its holdings in shares of Snowflake by 233.3% in the third 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 during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Snowflake by 2.7% in the third 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 during the last quarter. 65.10% of the stock is owned by institutional investors.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Product/strategy update: Snowflake expanded its open‑data strategy by adding Iceberg V3 support and a governance/portability plan — a technical move that strengthens Snowflake’s data interoperability and enterprise appeal. SiliconANGLE article
• Positive Sentiment: Buy thesis from long‑term investors: commentary pieces argue SNOW may be oversold and present a dip‑buy opportunity given its consumption-based revenue model and AI demand tailwinds. These views can support longer‑term recovery narratives. Seeking Alpha article
• Neutral Sentiment: Market attention: SNOW is among several names highlighted in daily market roundups of AI and cloud names moving today; such coverage increases short‑term volatility but is informational rather than company‑specific. MSN roundup
• Negative Sentiment: Multiple class‑action and investor notices: several law firms (Rosen, Bronstein Gewirtz & Grossman, Faruqi & Faruqi, Pomerantz, Schall, Bernstein Liebhard, etc.) have filed or are soliciting lead‑plaintiff claims covering purchases from June 27, 2023 to Feb 28, 2024 and are urging investors to act before an April 27, 2026 deadline — adding legal overhang and headline risk. Rosen Law Firm notice Bronstein notice
• Negative Sentiment: Sector repricing and heavy selling: coverage points to an “AI infrastructure” sell‑off that repriced enterprise‑software names today — SNOW fell sharply, traded at 52‑week lows and saw volume spike as investors rotated out of speculative AI plays. That macro/sector weakness is the primary driver of today’s price action. 247WallSt analysis Investing.com report
• Negative Sentiment: Security incident fallout: reports that some Snowflake customers suffered data‑theft attacks after a third‑party issue add operational and reputational risk concerns for the platform. MSN / Yahoo coverage

Snowflake Trading Down 8.5%

Shares of NYSE SNOW opened at $120.95 on Friday. The business’s 50 day moving average is $167.13 and its two-hundred day moving average is $211.72. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $280.67. The stock has a market capitalization of $41.81 billion, a P/E ratio of -30.62 and a beta of 1.23.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, research analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 2,621 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $170.01, for a total transaction of $445,596.21. Following the sale, the executive vice president directly owned 533,494 shares of the company’s stock, valued at $90,699,314.94. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Emily Ho sold 2,141 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $173.97, for a total value of $372,469.77. Following the sale, the chief accounting officer directly owned 44,553 shares in the company, valued at $7,750,885.41. The trade was a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 594,313 shares of company stock valued at $108,831,780 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNOW. Barclays reduced their target price on Snowflake from $204.00 to $192.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Mizuho reduced their target price on Snowflake from $285.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. UBS Group reduced their target price on Snowflake from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $275.00 target price on shares of Snowflake in a report on Thursday, February 26th. Finally, Scotiabank reduced their target price on Snowflake from $290.00 to $205.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.62.

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.