Snowflake Inc. $SNOW Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its stake in Snowflake Inc. (NYSE:SNOW) by 14.1% in the first quarter, Holdings Channel.com reports. The firm owned 27,513 shares of the company’s stock after acquiring an additional 3,393 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Snowflake were worth $4,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Vanguard Group Inc. lifted its position in Snowflake by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after buying an additional 1,448,094 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Snowflake by 27.7% in 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 during the period. Nuveen LLC increased its position in Snowflake by 2.3% during the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after purchasing an additional 116,521 shares during the last quarter. Geode Capital Management LLC raised its stake in Snowflake by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after purchasing an additional 249,668 shares during the period. Finally, Norges Bank purchased a new position in Snowflake during the fourth quarter worth about $974,091,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Negative Sentiment: Multiple insiders sold shares, including Director Teresa Briggs selling 343 shares at about $255.11 and EVP Christian Kleinerman selling 2,500 shares for about $646,400. While the trades were made under pre-arranged 10b5-1 plans, insider selling can still pressure sentiment. Article Title
• Neutral Sentiment: Interactive Data, LLC said it is putting select identity data on the Snowflake Marketplace, with Cortex AI enabling natural-language analytics. This supports Snowflake’s AI/data-platform narrative and could help long-term adoption, but the immediate financial impact is not yet clear. Article Title
• Neutral Sentiment: A separate article highlighted Snowflake as one of BlackRock’s important AI holdings and pointed to the company’s expansion into Chile, reinforcing the growth story but not adding a near-term catalyst by itself. Article Title
• Neutral Sentiment: Recent earnings and analyst commentary remain supportive: Snowflake beat expectations last quarter, and several firms have raised price targets, with a consensus “Moderate Buy” view. That backdrop helps explain why the shares have stayed strong despite the insider sales. Article Title

Snowflake Trading Up 1.8%

Snowflake stock traded up $4.70 during trading on Tuesday, hitting $266.79. The company had a trading volume of 1,301,039 shares, compared to its average volume of 7,415,969. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The company’s 50 day simple moving average is $205.08 and its 200-day simple moving average is $190.58. The stock has a market cap of $92.47 billion, a price-to-earnings ratio of -75.54 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was up 33.5% compared to the same quarter last year. As a group, analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on SNOW shares. Wedbush increased their price target on shares of Snowflake from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. KeyCorp set a $295.00 price target on shares of Snowflake in a research report on Thursday, May 28th. Weiss Ratings cut Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Wells Fargo & Company increased their price objective on Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Monness Crespi & Hardt raised their target price on Snowflake from $282.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.53.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 2,500 shares of Snowflake stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $258.56, for a total value of $646,400.00. Following the completion of the transaction, the executive vice president directly owned 397,879 shares of the company’s stock, valued at $102,875,594.24. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Teresa Briggs sold 343 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $255.11, for a total transaction of $87,502.73. Following the sale, the director owned 5,060 shares in the company, valued at $1,290,856.60. This trade represents a 6.35% 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. In the last three months, insiders sold 1,751,274 shares of company stock valued at $408,653,013. Insiders own 4.80% of the company’s stock.

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.