11,988 Shares in Snowflake Inc. $SNOW Acquired by Wealth High Governance Asset Management Ltda.

Key Points

• Wealth High Governance Asset Management acquired 11,988 Snowflake shares worth approximately $1.8 million in the first quarter. Institutional investors collectively own 65.1% of the company, with major funds including Vanguard, Jennison Associates and Norges Bank increasing or initiating positions.
• Snowflake exceeded quarterly expectations, reporting $0.39 in EPS versus a $0.32 consensus estimate and $1.39 billion in revenue, up 33.5% year over year. AI adoption and new enterprise partnerships are supporting the company’s growth outlook.
• Analysts remain broadly positive, with 34 Buy ratings and a consensus “Moderate Buy” rating, but Snowflake’s elevated valuation and substantial recent insider selling could limit investor enthusiasm.

Wealth High Governance Asset Management Ltda. purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,988 shares of the company's stock, valued at approximately $1,808,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Snowflake in the 4th quarter worth $974,091,000. Jennison Associates LLC grew its stake in Snowflake by 27.7% during the 4th 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 last quarter. Jericho Capital Asset Management L.P. acquired a new position in shares of Snowflake in the fourth quarter valued at about $345,619,000. Vanguard Group Inc. increased its holdings in shares of Snowflake by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company's stock valued at $6,601,790,000 after purchasing an additional 1,448,094 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Snowflake by 445.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company's stock worth $326,971,000 after purchasing an additional 1,217,350 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake Trading Up 0.3%

Shares of NYSE:SNOW opened at $294.05 on Monday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $304.17. The firm has a market capitalization of $101.92 billion, a price-to-earnings ratio of -83.54 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The business's 50 day moving average price is $250.72 and its 200-day moving average price is $197.20.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for 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%.Snowflake's revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. On average, equities research analysts forecast that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: AI adoption is supporting Snowflake’s outlook. A report highlighted AI traction as a factor behind the company’s guidance boost, reinforcing the view that demand for Snowflake’s data and AI platform remains strong. Snowflake recently exceeded quarterly earnings and revenue expectations, with revenue increasing 33.5% year over year. AI Traction Fuels Snowflake’s Guidance Boost
• Positive Sentiment: New enterprise AI partnerships add validation. Cursor named Snowflake one of six Benchmark Partners, alongside AWS, NVIDIA, Databricks, BCG and McKinsey, to help enterprises scale AI software development. The partnership could expand Snowflake’s visibility and potential usage among corporate AI customers. Cursor Launches Benchmark Partners Program
• Positive Sentiment: Some analysts remain highly bullish. Wells Fargo reportedly established an exceptionally high price target, reflecting increased confidence in Snowflake’s AI opportunity and the possibility of further growth. Wells Fargo Sees a Massive Number in Snowflake’s Future
• Neutral Sentiment: Insider selling was conducted under a preset plan. Co-founder Benoit Dageville sold or gifted 66,600 shares but reportedly retained a stake worth approximately $1.27 billion, limiting the transaction’s signal about his long-term confidence. Snowflake Co-Founder Share Transaction
• Negative Sentiment: Valuation is tempering enthusiasm. Commentators argue that Snowflake has “won” the AI debate, but its elevated valuation leaves limited room for execution mistakes. Another analysis suggested the recent rally could be running out of steam, helping explain the stock’s pullback despite favorable AI news. Snowflake Won the AI Argument, the Valuation Still Worries Me Why Snowflake Stock’s Rally May Be Running Out

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. KeyCorp lifted their target price on Snowflake from $285.00 to $325.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. BTIG Research increased their price target on shares of Snowflake from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Wedbush raised their price target on shares of Snowflake from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Wells Fargo & Company restated an "overweight" rating on shares of Snowflake in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Thirty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $296.27.

Insider Buying and Selling at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $245.21, for a total value of $12,343,380.98. Following the completion of the sale, the director owned 27,716 shares in the company, valued at approximately $6,796,240.36. This trade represents a 64.49% decrease in their position. The transaction 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 Mark Garrett sold 100,000 shares of Snowflake stock in a transaction on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares of the company's stock, valued at $2,200,250. The trade was a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,051,274 shares of company stock worth $496,879,031 in the last ninety days. 4.80% of the stock is owned by insiders.

Snowflake Company Profile

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.