AEGON ASSET MANAGEMENT UK Plc Sells 6,268 Shares of Snowflake Inc. $SNOW

Key Points

• AEGON Asset Management UK reduced its Snowflake stake by 7.2%, selling 6,268 shares in the third quarter and retaining 80,643 shares valued at about $27.4 million.
• Institutional and insider activity was mixed: several other funds increased their holdings, while Snowflake insiders sold 1.14 million shares worth about $373.7 million during the quarter.
• Analysts’ average price target was $413.87, with a consensus “Moderate Buy” rating. Snowflake’s latest quarterly revenue rose 35.1% year over year to $1.55 billion, and adjusted earnings per share beat estimates, though the company remained unprofitable on a net-margin basis.

AEGON ASSET MANAGEMENT UK Plc cut its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,643 shares of the company's stock after selling 6,268 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc's holdings in Snowflake were worth $27,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Snowflake by 22.2% in the 1st 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 stake in Snowflake by 76.9% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company's stock valued at $176,736,000 after acquiring an additional 509,230 shares during the last quarter. Swiss National Bank increased its stake in Snowflake by 7.1% in the first quarter. Swiss National Bank now owns 944,600 shares of the company's stock valued at $142,465,000 after acquiring an additional 62,600 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Snowflake by 134.5% during the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock valued at $268,351,000 after purchasing an additional 453,342 shares in the last quarter. Finally, CI Investments Inc. raised its position in Snowflake by 34.6% during the first quarter. CI Investments Inc. now owns 720,810 shares of the company's stock valued at $108,713,000 after purchasing an additional 185,261 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Transactions at Snowflake

In related news, Director Michael Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $353.87, for a total transaction of $17,813,108.06. Following the sale, the director directly owned 25,196 shares in the company, valued at $8,916,108.52. The trade was a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 50,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $350.00, for a total value of $17,500,000.00. Following the completion of the transaction, the director 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,135,702 shares of company stock worth $373,733,800. 4.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SNOW shares. Oppenheimer lifted their price target on Snowflake from $400.00 to $475.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Piper Sandler reissued an "overweight" rating and set a $450.00 price target (up from $320.00) on shares of Snowflake in a research note on Thursday, September 3rd. Rosenblatt Securities boosted their price objective on shares of Snowflake from $285.00 to $345.00 and gave the stock a "buy" rating in a report on Tuesday, September 1st. Argus boosted their price target on shares of Snowflake from $300.00 to $450.00 and gave the stock a "buy" rating in a research note on Friday, September 4th. Finally, Truist Financial set a $425.00 price target on shares of Snowflake and gave the stock a "buy" rating in a research note 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 given a Sell rating to the company's stock. According to MarketBeat, Snowflake currently has a consensus rating of "Moderate Buy" and an average target price of $413.87.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake rose alongside other AI stocks in a broad rebound from the previous week’s selloff. The move appears driven mainly by sector sentiment rather than a new company-specific announcement. Article: Palantir Rises 5%, Snowflake Up 6% as AI Stocks Rebound
• Positive Sentiment: A hammer chart pattern and upward earnings-estimate revisions are cited as signs that SNOW may have found near-term support, potentially improving the outlook for a rebound. These are indicators, not guarantees. Article: Snowflake Could Find a Support Soon
• Positive Sentiment: A fund manager reported a new position in Snowflake in a filing covering holdings as of June 30. This indicates institutional interest, though the disclosure is dated and does not show whether the fund still holds the shares. Article: A $4.7 Billion Fund Bought These 3 Stocks
• Negative Sentiment: Despite strong growth, Snowflake has not established consistent profitability. A comparison with Palantir highlights this concern, particularly as investors assess whether Snowflake’s growth and AI opportunity justify its valuation. Article: Palantir vs. Snowflake

Snowflake Stock Up 5.7%

Shares of NYSE SNOW opened at $291.69 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. The firm has a market capitalization of $102.91 billion, a PE ratio of -91.73 and a beta of 1.32. The firm has a fifty day simple moving average of $327.24 and a two-hundred day simple moving average of $242.08.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. Equities analysts expect that Snowflake Inc. will post -1.42 earnings per share for the current year.

Snowflake 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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