Clear Street Group Inc. Buys New Shares in Snowflake Inc. $SNOW

Key Points

• Clear Street Group bought a new stake of 62,986 Snowflake shares (~$14.2M) in Q3, joining other large institutional moves (e.g., Norges Bank, Winslow, American Century) that leave institutions owning about 65.1% of SNOW.
• Snowflake reported Q4 revenue of $1.28B (up ~30% YoY) with product revenues of $1.22B and management guiding ~27% YoY revenue growth for Q1 FY27, backing positive analyst sentiment and a consensus price target near $248.58.
• Risks remain — a proliferation of securities class-action filings and significant insider/director selling (713,732 shares sold in the last three months) represent potential near-term overhangs on the stock.

Clear Street Group Inc. purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 62,986 shares of the company's stock, valued at approximately $14,206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Norges Bank bought a new position in shares of Snowflake in the 2nd quarter valued at about $944,895,000. Winslow Capital Management LLC acquired a new stake in shares of Snowflake in the second quarter valued at about $725,667,000. American Century Companies Inc. raised its holdings in Snowflake by 233.3% during the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company's stock worth $474,766,000 after acquiring an additional 1,473,354 shares in the last quarter. Sei Investments Co. raised its holdings in Snowflake by 272.4% during the second quarter. Sei Investments Co. now owns 1,593,329 shares of the company's stock worth $356,543,000 after acquiring an additional 1,165,515 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Snowflake by 13.5% during the third quarter. Jennison Associates LLC now owns 9,083,889 shares of the company's stock valued at $2,048,871,000 after purchasing an additional 1,083,222 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake reported robust product momentum: product revenues rose to $1.22B in Q4 and management is guiding Q1 FY27 revenue growth of ~27% YoY — a clear near‑term revenue catalyst supporting upside expectations. Read More.
• Positive Sentiment: Analyst bullishness — Canaccord and other firms continue to show conviction (consensus target ~ $240 per the note), keeping a majority of covering analysts constructive and implying material upside versus current levels. Read More.
• Positive Sentiment: AI and market positioning — Multiple pieces (company research, Forbes/industry coverage, and a study highlighting India as an early GenAI adopter) reinforce Snowflake’s role as the "AI data cloud" provider, supporting longer‑term TAM expansion and customer adoption. Read More.
• Neutral Sentiment: Market interest and background analysis — Zacks and other outlets note Snowflake is a trending stock and provide refreshers on financials and use cases; useful context for traders but not immediate catalysts. Read More.
• Neutral Sentiment: Valuation debate — Analysts and commentators (e.g., Seeking Alpha) acknowledge strong growth but flag that valuation is not cheap, suggesting upside depends on execution and margin improvement. Read More.
• Negative Sentiment: Litigation wave — Multiple law firms have filed or announced notices related to a securities class period and April 27 lead‑plaintiff deadlines; proliferation of claims raises legal and financial overhang risk. Read More.
• Negative Sentiment: Insider/director selling — Recent Form 4 disclosures show sales by senior management and a director (including Frank Slootman and EVP Christian Kleinerman); media linked these trades to near‑term selling pressure. Read More.

Snowflake Stock Performance

SNOW opened at $178.60 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The business has a 50 day moving average of $189.67 and a 200-day moving average of $221.37. The stock has a market cap of $61.12 billion, a price-to-earnings ratio of -45.22 and a beta of 1.16.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm earned $0.30 EPS. The firm's revenue was up 30.1% compared to the same quarter last year. On average, equities research analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Monness Crespi & Hardt raised their price target on Snowflake from $275.00 to $282.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. KeyCorp cut their price objective on Snowflake from $285.00 to $235.00 and set an "overweight" rating for the company in a report on Thursday, February 19th. DA Davidson decreased their target price on shares of Snowflake from $300.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Evercore boosted their target price on shares of Snowflake from $280.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, December 4th. Finally, UBS Group dropped their price target on shares of Snowflake from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $248.58.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $219.90, for a total value of $2,199,000.00. Following the transaction, the executive vice president directly owned 471,351 shares of the company's stock, valued at $103,650,084.90. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Speiser sold 50,338 shares of the firm's stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $221.16, for a total transaction of $11,132,752.08. Following the sale, the director owned 31,916 shares of the company's stock, valued at approximately $7,058,542.56. This represents a 61.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 713,732 shares of company stock valued at $144,510,676. 6.80% of the stock is owned by company insiders.

Snowflake 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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