Assenagon Asset Management S.A. Acquires 247,607 Shares of Snowflake Inc. $SNOW

Assenagon Asset Management S.A. grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 277.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,949 shares of the company's stock after acquiring an additional 247,607 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Snowflake worth $85,754,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SNOW. Assetmark Inc. increased its position in Snowflake by 99.1% during the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company's stock valued at $43,577,000 after purchasing an additional 98,870 shares during the period. Jennison Associates LLC lifted its position in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock worth $2,545,300,000 after purchasing an additional 2,519,413 shares during the period. Swedbank AB lifted its position in shares of Snowflake by 6.0% in the 4th quarter. Swedbank AB now owns 1,330,415 shares of the company's stock worth $291,840,000 after purchasing an additional 75,419 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Snowflake by 8.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 144,234 shares of the company's stock valued at $31,639,000 after purchasing an additional 10,972 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Snowflake by 17,351.1% during the fourth quarter. Whittier Trust Co. now owns 58,112 shares of the company's stock valued at $13,629,000 after buying an additional 57,779 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Up 3.9%

Shares of SNOW stock opened at $330.26 on Friday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $331.40. The firm has a fifty day moving average price of $262.16 and a 200-day moving average price of $201.11. 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 company has a market cap of $114.47 billion, a price-to-earnings ratio of -93.82 and a beta of 1.33.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. As a group, equities analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SNOW shares. HSBC set a $289.00 price target on shares of Snowflake and gave the stock a "buy" rating in a research note on Friday, May 29th. Mizuho upped their target price on Snowflake from $220.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, May 28th. Truist Financial increased their target price on Snowflake from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Citigroup raised their target price on Snowflake from $260.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group lifted their price target on Snowflake from $216.00 to $278.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Thirty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $296.68.

Insider Activity

In other news, Director Teresa Briggs sold 343 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73. Following the sale, the director directly owned 5,060 shares in the company, valued at $1,290,856.60. This trade represents a 6.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 840 shares of the company's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $257.91, for a total transaction of $216,644.40. Following the completion of the transaction, the director directly owned 26,876 shares of the company's stock, valued at $6,931,589.16. This represents a 3.03% decrease in their position. 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. In the last ninety days, insiders sold 2,091,260 shares of company stock valued at $508,844,831. 4.80% of the stock is currently owned by company insiders.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: AI product expansion: Snowflake introduced Cortex AI Gateway, designed to govern enterprise AI agents, control costs and strengthen security. New integrations with 1Password and Aembit could support additional enterprise AI workloads and platform adoption. Snowflake Unveils Cortex AI Gateway
• Positive Sentiment: Positive analyst and options sentiment: Brokerages collectively maintain a “Moderate Buy” recommendation, with 34 Buy ratings, five Holds and one Sell. Investors have also traded large volumes of long-dated short-put positions, a strategy that can indicate willingness to buy SNOW at lower prices or collect premium income. The consensus price target of $296.68, however, is below the stock’s current trading level. Consensus Recommendation Snowflake Put Options Activity
• Positive Sentiment: AI ecosystem momentum: Snowflake was cited as a strategic collaborator by Zeta Global after the marketing software company raised its 2026 revenue outlook. The association supports Snowflake’s positioning as infrastructure for AI-driven enterprise applications. Zeta Global AI Collaboration
• Neutral Sentiment: Relative investment appeal: An article suggested investors taking profits in sharply higher Nebius Group shares could consider cloud and AI companies including Snowflake. This may increase comparative interest in SNOW but does not represent a direct business catalyst. Nebius and Snowflake Investment Comparison
• Negative Sentiment: Security overhang: A Canadian hacker pleaded guilty to stealing data from more than 165 Snowflake customer environments and extorting victims. Although the case involves criminal attacks and does not announce a new Snowflake breach, it could revive concerns about customer security, controls and reputational risk. Snowflake Hacker Guilty Plea
• Negative Sentiment: Executive selling: EVP Christian Kleinerman sold 10,000 shares worth approximately $2.97 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 2.66%, though the planned nature of the transaction makes it a weaker signal than discretionary selling. Christian Kleinerman Share Sale

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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