Alight Capital Management LP Boosts Stake in Snowflake Inc. $SNOW

Key Points

• Alight Capital Management increased its Snowflake stake by 40% in the fourth quarter, buying 10,000 more shares and bringing its total holdings to 35,000 shares worth about $7.68 million.
• Snowflake continues to attract bullish analyst attention, with multiple firms raising price targets and MarketBeat showing a consensus rating of “Moderate Buy” and a target price of $291.77.
• The company is also facing mixed signals from insiders and competition: several executives sold shares under pre-arranged plans, while investor focus remains on rising competition from Databricks even as Snowflake posts strong customer adoption and revenue growth.

Alight Capital Management LP increased its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the company's stock after buying an additional 10,000 shares during the period. Snowflake accounts for about 2.0% of Alight Capital Management LP's investment portfolio, making the stock its 17th biggest position. Alight Capital Management LP's holdings in Snowflake were worth $7,678,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Snowflake in the fourth quarter worth about $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter worth about $29,000. GoalVest Advisory LLC lifted its position in shares of Snowflake by 221.4% in the fourth quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock worth $30,000 after buying an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after buying an additional 51 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock worth $33,000 after buying an additional 50 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Snowflake

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNOW. Stifel Nicolaus boosted their target price on Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Mizuho upped their price objective on Snowflake from $220.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. Rosenblatt Securities upped their price objective on Snowflake from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Sanford C. Bernstein upped their price objective on Snowflake from $195.00 to $250.00 and gave the company a "market perform" rating in a research report on Thursday, May 28th. Finally, DA Davidson upped their price objective on Snowflake from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. One equities research 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. According to MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus target price of $291.77.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.00, for a total transaction of $2,720,000.00. Following the transaction, the executive vice president owned 418,494 shares of the company's stock, valued at approximately $113,830,368. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $148.21, for a total value of $7,460,594.98. Following the transaction, the director directly owned 29,396 shares in the company, valued at approximately $4,356,781.16. This represents a 63.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,493,618 shares of company stock worth $343,531,621. Corporate insiders own 4.80% of the company's stock.

Snowflake Trading Down 1.7%

SNOW opened at $234.24 on Thursday. The stock has a market cap of $81.19 billion, a price-to-earnings ratio of -66.55 and a beta of 1.35. The stock's 50 day moving average price is $178.86 and its 200-day moving average price is $189.60. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. 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 earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The firm 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%.The company's quarterly revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

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.

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