Leeward Financial Partners LLC Buys New Stake in Snowflake Inc. $SNOW

Leeward Financial Partners LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,758 shares of the company’s stock, valued at approximately $1,616,000.

Several other hedge funds have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its stake in Snowflake by 37.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 124 shares of the company’s stock valued at $42,000 after purchasing an additional 34 shares during the period. Nvwm LLC grew its holdings in Snowflake by 0.6% in the 3rd quarter. Nvwm LLC now owns 6,215 shares of the company’s stock valued at $2,110,000 after buying an additional 37 shares in the last quarter. Myecfo LLC grew its holdings in Snowflake by 4.1% in the 3rd quarter. Myecfo LLC now owns 968 shares of the company’s stock valued at $329,000 after buying an additional 38 shares in the last quarter. Fermata Advisors LLC grew its holdings in Snowflake by 4.9% in the 3rd quarter. Fermata Advisors LLC now owns 893 shares of the company’s stock valued at $303,000 after buying an additional 42 shares in the last quarter. Finally, Abel Hall LLC increased its position in Snowflake by 3.8% during the 3rd quarter. Abel Hall LLC now owns 1,189 shares of the company’s stock worth $404,000 after buying an additional 44 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of NYSE:SNOW opened at $325.26 on Monday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The stock has a market capitalization of $114.75 billion, a price-to-earnings ratio of -102.28 and a beta of 1.35. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50 day simple moving average is $331.76 and its 200 day simple moving average is $261.53.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on SNOW. Deutsche Bank Aktiengesellschaft set a $400.00 target price on Snowflake in a report on Thursday, September 3rd. Yorkville Ives began coverage on shares of Snowflake in a research report on Monday, October 5th. They issued an “outperform” rating and a $400.00 target price for the company. Phillip Securities downgraded shares of Snowflake from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, October 12th. Raymond James Financial upped their price target on shares of Snowflake from $275.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Finally, Citigroup raised their price target on shares of Snowflake from $395.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Thirty-six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.87.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 300,000 shares of Snowflake stock in a transaction on Monday, October 19th. The stock was sold at an average price of $316.43, for a total value of $94,929,000.00. Following the transaction, the director owned 19,024 shares in the company, valued at approximately $6,019,764.32. This trade represents a 94.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 25,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the transaction, the executive vice president directly owned 340,379 shares of the company’s stock, valued at $110,623,175. This trade represents a 6.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,246,429 shares of company stock worth $408,832,628. 4.80% of the stock is currently owned by company insiders.

Snowflake News Summary

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

Snowflake 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.