38,962 Shares in Snowflake Inc. $SNOW Bought by OP Asset Management Ltd

Key Points

• OP Asset Management initiated a new position in Snowflake, buying 38,962 shares worth about $5.88 million in the first quarter.
• Snowflake reported better-than-expected quarterly results, with EPS of $0.39 versus $0.32 expected and revenue of $1.39 billion, up 33.5% year over year.
• Analyst sentiment remains bullish, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy and an average target of $293.53.

OP Asset Management Ltd bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 38,962 shares of the company's stock, valued at approximately $5,876,000.

A number of other hedge funds have also recently made changes to their positions in SNOW. Vanguard Group Inc. raised its holdings in Snowflake by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company's stock valued at $6,601,790,000 after buying an additional 1,448,094 shares during the last quarter. Jennison Associates LLC increased its holdings in 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 holdings in Snowflake by 2.3% in the fourth quarter. Nuveen LLC now owns 5,277,851 shares of the company's stock valued at $1,157,749,000 after purchasing an additional 116,521 shares during the period. Geode Capital Management LLC raised its position in Snowflake by 5.5% during the 4th 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 last quarter. Finally, Norges Bank bought a new position in Snowflake during the 4th quarter worth $974,091,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

Shares of SNOW opened at $227.32 on Friday. The firm has a market cap of $78.79 billion, a PE ratio of -64.58 and a beta of 1.35. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The business's 50 day moving average price is $189.91 and its two-hundred day moving average price is $188.77. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted $0.24 EPS. Snowflake's revenue for the quarter was up 33.5% compared to the same quarter last year. On average, equities analysts anticipate that Snowflake Inc. will post -1.89 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Jonathan Mead Beaulier sold 9,367 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $231.98, for a total transaction of $2,172,956.66. Following the transaction, the executive owned 234,791 shares of the company's stock, valued at $54,466,816.18. This represents a 3.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Vivek Raghunathan sold 3,876 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total value of $930,240.00. Following the completion of the sale, the senior vice president owned 258,689 shares of the company's stock, valued at approximately $62,085,360. This represents a 1.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders sold 1,700,844 shares of company stock valued at $390,339,279. 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: Market commentary continues to highlight Snowflake’s AI momentum, with a Forbes piece arguing that “agentic AI” is helping rewrite the playbook for Snowflake and peers, which can reinforce bullish trading in the name. Article Title
• Positive Sentiment: Snowflake is expanding its footprint in Bellevue’s Spring District, a sign of continued operational investment and growth expectations. Article Title
• Positive Sentiment: Analyst and media coverage remains constructive overall, with multiple notes suggesting Snowflake’s AI/data platform narrative is still drawing buyers after a strong rebound in the share price. Article Title
• Neutral Sentiment: OneTrust was recognized as a Leader in Snowflake’s Modern Marketing Data Stack report, which supports Snowflake’s partner ecosystem and platform relevance, but is not a direct financial update. Article Title
• Negative Sentiment: EVP Christian Kleinerman sold 2,621 shares, extending a recent pattern of insider selling. The sale was pre-planned and tied to tax withholding, but insider transactions can still pressure sentiment. Article Title

Analysts Set New Price Targets

A number of equities research analysts have commented on SNOW shares. Benchmark upped their price target on Snowflake from $200.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Citigroup lifted their price objective on Snowflake from $260.00 to $320.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Sanford C. Bernstein upped their target price on Snowflake from $195.00 to $250.00 and gave the company a "market perform" rating in a report on Thursday, May 28th. Needham & Company LLC increased their target price on shares of Snowflake from $300.00 to $330.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Snowflake from $245.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Snowflake currently has an average rating of "Moderate Buy" and an average price target of $293.53.

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.

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