Clearbridge Investments LLC Has $227.19 Million Stake in Snowflake Inc. $SNOW

Key Points

• Clearbridge Investments slightly reduced its Snowflake position in the fourth quarter, selling 36,996 shares and leaving it with 1,035,695 shares valued at about $227.19 million.
• Snowflake continues to attract mostly bullish analyst attention, with several firms raising price targets and the stock carrying a Moderate Buy consensus and average target of about $290.87.
• The company recently posted solid quarterly results, including EPS of $0.39 versus estimates of $0.32 and revenue growth of 33.5% year over year, even as insiders sold shares under pre-arranged trading plans.

Clearbridge Investments LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,035,695 shares of the company's stock after selling 36,996 shares during the quarter. Clearbridge Investments LLC owned approximately 0.30% of Snowflake worth $227,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Valtrion Capital Management LLC bought a new position in shares of Snowflake in the 4th quarter valued at approximately $252,000. Cookson Peirce & Co. Inc. raised its stake in shares of Snowflake by 3,535.2% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 43,913 shares of the company's stock valued at $9,633,000 after acquiring an additional 42,705 shares in the last quarter. Pinebridge Investments LLC bought a new position in shares of Snowflake in the 4th quarter valued at approximately $5,259,000. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of Snowflake in the 4th quarter valued at approximately $11,432,000. Finally, Prudential PLC raised its stake in shares of Snowflake by 3.4% in the 4th quarter. Prudential PLC now owns 62,583 shares of the company's stock valued at $13,728,000 after acquiring an additional 2,033 shares in 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: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 162,924 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $263.70, for a total transaction of $42,963,058.80. Following the sale, the director directly owned 38,046 shares in the company, valued at approximately $10,032,730.20. The trade was a 81.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.00, for a total value of $2,720,000.00. Following the sale, the executive vice president owned 418,494 shares in the company, valued at approximately $113,830,368. This represents a 2.33% 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. In the last ninety days, insiders have sold 1,538,672 shares of company stock valued at $346,816,863. Company insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Rosenblatt Securities raised their price objective on Snowflake from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Barclays lifted their price target on Snowflake from $272.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wedbush lifted their price target on Snowflake from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Canaccord Genuity Group lifted their price target on Snowflake from $240.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, Loop Capital lifted their price target on Snowflake from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus target price of $290.87.

Snowflake Stock Performance

SNOW opened at $238.12 on Monday. The stock has a market cap of $82.53 billion, a PE ratio of -67.65 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The stock's 50 day simple moving average is $165.25 and its 200-day simple moving average is $190.11.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The business 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 quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. Sell-side analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

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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