6,029 Snowflake Inc. $SNOW Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its position in Snowflake Inc. (NYSE:SNOW) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,961 shares of the company’s stock after selling 6,029 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Snowflake were worth $13,230,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SNOW. Janus Henderson Group PLC raised its holdings in shares of Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company’s stock valued at $452,014,000 after purchasing an additional 544,960 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Snowflake by 76.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company’s stock worth $176,736,000 after purchasing an additional 509,230 shares during the period. Swiss National Bank grew its holdings in Snowflake by 7.1% during the first quarter. Swiss National Bank now owns 944,600 shares of the company’s stock worth $142,465,000 after purchasing an additional 62,600 shares during the period. Assenagon Asset Management S.A. grew its holdings in Snowflake by 134.5% during the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company’s stock worth $268,351,000 after purchasing an additional 453,342 shares during the period. Finally, CI Investments Inc. increased its position in Snowflake by 34.6% during the first quarter. CI Investments Inc. now owns 720,810 shares of the company’s stock worth $108,713,000 after buying an additional 185,261 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Up 2.5%

Shares of SNOW opened at $276.32 on Friday. The firm has a market cap of $97.48 billion, a P/E ratio of -86.89 and a beta of 1.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $384.56. The firm’s 50-day simple moving average is $327.95 and its 200 day simple moving average is $241.66.

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 the consensus estimate of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current year.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake unveiled tools aimed at moving enterprise AI agents from pilot projects into production, including features for business context, governance and automating data-engineering work. These offerings could encourage adoption and increase customer usage. Snowflake unveils innovations for the agentic enterprise
• Positive Sentiment: Recent commentary points to AI adoption, customer growth and raised revenue guidance as drivers of Snowflake’s strong year-to-date performance. Another bullish analysis argues that accelerating revenue growth may be underappreciated, though its optimistic price outlook depends on the valuation multiple investors assign the company. Zacks on Snowflake’s growth and valuation · Wall Street may be underestimating Snowflake’s growth potential
• Neutral Sentiment: Former Snowflake revenue chief Mike Gannon is joining AI infrastructure startup Spectro Cloud. The report concerns a former executive and does not describe a change to Snowflake’s operations or outlook. Former Snowflake revenue chief joins Spectro Cloud
• Negative Sentiment: Valuation remains a risk: coverage notes that Snowflake trades at a premium, leaving the stock sensitive to whether its AI-fueled growth can justify expectations. Executive Vice President Christian Kleinerman also sold 10,000 shares for about $3.06 million; the sale was under a pre-arranged trading plan, and he retained more than 303,000 shares. Snowflake executive stock sale

Insider Transactions at Snowflake

In other news, Director Michael Speiser sold 50,338 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $353.87, for a total transaction of $17,813,108.06. Following the transaction, the director owned 25,196 shares in the company, valued at approximately $8,916,108.52. This trade represents a 66.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 300,000 shares of Snowflake stock in a transaction that occurred 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 sale, the director directly owned 19,024 shares of the company’s stock, valued at approximately $6,019,764.32. The trade was a 94.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,135,702 shares of company stock worth $373,733,800 in the last ninety days. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNOW. Canaccord Genuity Group upped their price objective on Snowflake from $325.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Stifel Nicolaus lifted their target price on Snowflake from $350.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Wells Fargo & Company boosted their target price on Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Monness Crespi & Hardt boosted their target price on Snowflake from $380.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Finally, KeyCorp increased their price target on Snowflake from $285.00 to $325.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Thirty-six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $413.87.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services.

Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

Founded in 2012, Snowflake went public in 2020.