7,239 Snowflake Inc. $SNOW Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its Snowflake stake by 31.9% in the third quarter, buying 7,239 shares and bringing its holdings to 29,903 shares, valued at about $10.2 million.
• Snowflake reported quarterly EPS of $0.62, beating the $0.45 consensus, while revenue of $1.55 billion exceeded estimates and rose 35.1% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $413.87.
• Insider selling and valuation are potential risks: insiders sold more than 1.13 million shares worth about $373.7 million over three months, while coverage noted the stock’s premium valuation could make it sensitive to whether growth meets expectations.

Ethic Inc. lifted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,903 shares of the company's stock after purchasing an additional 7,239 shares during the period. Ethic Inc.'s holdings in Snowflake were worth $10,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. OMERS ADMINISTRATION Corp grew its holdings in Snowflake by 4,284.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company's stock worth $105,013,000 after purchasing an additional 680,397 shares during the period. Janus Henderson Group PLC increased its position in Snowflake by 22.2% during the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock worth $452,014,000 after buying an additional 544,960 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Snowflake by 76.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company's stock worth $176,736,000 after buying an additional 509,230 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Snowflake by 134.5% in the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock valued at $268,351,000 after buying an additional 453,342 shares during the period. Finally, CI Investments Inc. raised its stake in Snowflake by 34.6% in the first quarter. CI Investments Inc. now owns 720,810 shares of the company's stock valued at $108,713,000 after buying an additional 185,261 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Up 0.2%

Shares of SNOW opened at $276.32 on Monday. The firm has a market cap of $97.48 billion, a P/E ratio of -86.89 and a beta of 1.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $384.56. The firm's 50-day simple moving average is $327.95 and its 200 day simple moving average is $241.66.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. On average, analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on Snowflake from $395.00 to $490.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Canaccord Genuity Group lifted their target price on Snowflake from $325.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. DA Davidson boosted their target price on Snowflake from $300.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Barclays increased their price target on Snowflake from $332.00 to $384.00 and gave the company an "equal weight" rating in a research note on Thursday, September 3rd. Finally, Scotiabank reaffirmed a "sector outperform" rating and set a $440.00 price target (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. Thirty-six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $413.87.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake unveiled tools aimed at moving enterprise AI agents from pilot projects into production, including features for business context, governance and automating data-engineering work. These offerings could encourage adoption and increase customer usage. Snowflake unveils innovations for the agentic enterprise
• Positive Sentiment: Recent commentary points to AI adoption, customer growth and raised revenue guidance as drivers of Snowflake’s strong year-to-date performance. Another bullish analysis argues that accelerating revenue growth may be underappreciated, though its optimistic price outlook depends on the valuation multiple investors assign the company. Zacks on Snowflake’s growth and valuation · Wall Street may be underestimating Snowflake’s growth potential
• Neutral Sentiment: Former Snowflake revenue chief Mike Gannon is joining AI infrastructure startup Spectro Cloud. The report concerns a former executive and does not describe a change to Snowflake’s operations or outlook. Former Snowflake revenue chief joins Spectro Cloud
• Negative Sentiment: Valuation remains a risk: coverage notes that Snowflake trades at a premium, leaving the stock sensitive to whether its AI-fueled growth can justify expectations. Executive Vice President Christian Kleinerman also sold 10,000 shares for about $3.06 million; the sale was under a pre-arranged trading plan, and he retained more than 303,000 shares. Snowflake executive stock sale

Insider Transactions at Snowflake

In related news, Director Mark Garrett sold 50,000 shares of Snowflake stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $350.00, for a total transaction of $17,500,000.00. Following the completion of the sale, the director directly owned 10,074 shares of the company's stock, valued at approximately $3,525,900. This trade represents a 83.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 300,000 shares of Snowflake stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $316.43, for a total value of $94,929,000.00. Following the sale, the director directly owned 19,024 shares of the company's stock, valued at approximately $6,019,764.32. The trade was a 94.04% 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 1,135,702 shares of company stock worth $373,733,800 over the last three months. Company insiders own 4.80% of the company's stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services.

Snowflake's platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

Founded in 2012, Snowflake went public in 2020.

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