Castle Hook Partners LP Sells 2,566 Shares of Snowflake Inc. $SNOW

Castle Hook Partners LP cut its holdings in Snowflake Inc. (NYSE:SNOW) by 48.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,725 shares of the company’s stock after selling 2,566 shares during the quarter. Castle Hook Partners LP’s holdings in Snowflake were worth $598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aristotle Atlantic Partners LLC acquired a new stake in Snowflake in the fourth quarter worth $1,702,000. Asset One Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter worth $296,000. Atreides Management LP raised its holdings in Snowflake by 2.0% in the fourth quarter. Atreides Management LP now owns 478,754 shares of the company’s stock worth $105,019,000 after purchasing an additional 9,209 shares during the period. Bamco Inc. NY raised its holdings in Snowflake by 2.3% in the fourth quarter. Bamco Inc. NY now owns 381,878 shares of the company’s stock worth $83,769,000 after purchasing an additional 8,456 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Snowflake by 6.3% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 72,664 shares of the company’s stock worth $15,964,000 after purchasing an additional 4,307 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Trading Down 1.7%

Shares of NYSE:SNOW opened at $234.24 on Thursday. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $178.86 and its 200 day simple moving average is $189.60. The firm has a market cap of $81.19 billion, a price-to-earnings ratio of -66.55 and a beta of 1.35.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data 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 net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, research analysts forecast that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 2,986 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total transaction of $716,640.00. Following the sale, the executive vice president directly owned 405,652 shares in the company, valued at $97,356,480. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael L. Speiser sold 403 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $245.21, for a total transaction of $98,819.63. Following the sale, the director owned 22,106 shares in the company, valued at approximately $5,420,612.26. The trade was a 1.79% 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 sold a total of 1,493,618 shares of company stock valued at $343,531,621 over the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Needham & Company LLC increased their target price on shares of Snowflake from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. TD Cowen reiterated a “buy” rating and issued a $300.00 target price on shares of Snowflake in a report on Wednesday, June 3rd. Evercore set a $200.00 target price on shares of Snowflake in a report on Tuesday, April 14th. DA Davidson increased their target price on shares of Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group increased their target price on shares of Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $291.77.

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.