Westfield Capital Management Co. LP Grows Stake in Snowflake Inc. $SNOW

Westfield Capital Management Co. LP grew its holdings in Snowflake Inc. (NYSE:SNOW) by 12.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 649,105 shares of the company’s stock after buying an additional 74,150 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Snowflake were worth $142,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its position in shares of Snowflake by 99.1% during the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after purchasing an additional 98,870 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Snowflake during the third quarter valued at approximately $116,882,000. Swedbank AB boosted its position in shares of Snowflake by 6.0% during the fourth quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock valued at $291,840,000 after purchasing an additional 75,419 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 857,832 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNOW. Loop Capital lifted their price target on Snowflake from $290.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho lifted their price target on Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Monness Crespi & Hardt lifted their price target on Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Needham & Company LLC lifted their price target on Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price target on Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.23.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake’s Summit 26 showcased major AI product updates, including enhancements to Horizon Catalog, CoWork, CoCo, and Datastream, supporting the view that Snowflake is becoming a core enterprise AI platform.
• Positive Sentiment: Wall Street sentiment has improved meaningfully, with UBS, Needham, BTIG, Piper Sandler, and TD Cowen all raising targets or reiterating bullish ratings after the company’s strong earnings and AI momentum. UBS target raise on Snowflake
• Positive Sentiment: Analysts said Snowflake’s AI monetization opportunity is gaining traction, suggesting its new AI-native products are starting to drive real commercial demand. Jefferies commentary on Snowflake AI monetization
• Positive Sentiment: Customer and partner announcements, including TransUnion, Cognizant, Sanofi, and Thomson Reuters, point to broader adoption of Snowflake’s AI data cloud ecosystem. TransUnion expands on Snowflake AI Data Cloud
• Neutral Sentiment: Coverage and commentary comparing Snowflake with other software and AI stocks may help keep investor interest high, but it is not a direct near-term earnings driver.
• Negative Sentiment: Insider selling by Director Frank Slootman and EVP Christian Kleinerman could create some headline pressure, even though both trades were made under pre-arranged 10b5-1 plans. Frank Slootman sells Snowflake shares
• Negative Sentiment: SNOW also weakened alongside the broader software group as investors took profits across the sector, so part of the stock’s recent decline appears tied to industry-wide selling rather than company-specific fundamentals. Software sector profit-taking hits Snowflake

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction on Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the transaction, the director owned 38,046 shares in the company, valued at approximately $9,603,951.78. The trade was a 91.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction on Monday, April 6th. The shares were sold at an average price of $148.21, for a total value of $7,460,594.98. Following the transaction, the director owned 29,396 shares of the company’s stock, valued at $4,356,781.16. The trade was a 63.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,538,672 shares of company stock worth $346,816,863. 4.80% of the stock is owned by insiders.

Snowflake Stock Up 1.3%

Shares of NYSE:SNOW opened at $244.47 on Friday. The stock has a fifty day simple moving average of $163.69 and a two-hundred day simple moving average of $190.21. The stock has a market capitalization of $84.51 billion, a price-to-earnings ratio of -69.45 and a beta of 1.35. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, research analysts anticipate that Snowflake Inc. will post -2.15 earnings per share for the current fiscal year.

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.