HighTower Advisors LLC Has $35.48 Million Stock Position in Snowflake Inc. $SNOW

Key Points

• HighTower Advisors LLC boosted its Snowflake stake by 30.6% in the fourth quarter, ending with 161,763 shares valued at about $35.48 million.
• Analysts remain broadly positive, with Snowflake carrying a Moderate Buy consensus and an average target price of $242.19, even as several firms recently cut their price targets.
• Snowflake reported quarterly results that beat expectations, posting $0.32 EPS on $1.28 billion in revenue, while revenue rose 30.1% year over year.

HighTower Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 30.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 161,763 shares of the company's stock after buying an additional 37,891 shares during the quarter. HighTower Advisors LLC's holdings in Snowflake were worth $35,484,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its stake in Snowflake by 20.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,040 shares of the company's stock worth $2,202,000 after buying an additional 1,699 shares during the period. WD Rutherford LLC raised its stake in Snowflake by 21.8% during the 4th quarter. WD Rutherford LLC now owns 18,610 shares of the company's stock worth $4,082,000 after buying an additional 3,330 shares during the period. Odyssey Capital Advisors Inc. acquired a new position in Snowflake during the 4th quarter worth approximately $244,000. TD Private Client Wealth LLC raised its stake in Snowflake by 49.8% during the 4th quarter. TD Private Client Wealth LLC now owns 4,646 shares of the company's stock worth $1,019,000 after buying an additional 1,545 shares during the period. Finally, Mission Wealth Management LP acquired a new position in Snowflake during the 4th quarter worth approximately $211,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler dropped their price target on Snowflake from $285.00 to $230.00 and set an "overweight" rating on the stock in a research note on Thursday, February 26th. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Wednesday, February 18th. Sanford C. Bernstein lowered their price objective on Snowflake from $237.00 to $195.00 and set a "market perform" rating for the company in a research note on Thursday, February 26th. BTIG Research lowered their price objective on Snowflake from $312.00 to $235.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Finally, Barclays lowered their price objective on Snowflake from $204.00 to $192.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus target price of $242.19.

Snowflake Stock Performance

Shares of Snowflake stock opened at $165.57 on Friday. The company has a market cap of $57.24 billion, a PE ratio of -41.92 and a beta of 1.08. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $280.67. The business has a 50 day moving average price of $154.03 and a 200-day moving average price of $193.31. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The company's quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. Equities analysts anticipate that Snowflake Inc. will post -2.16 earnings per share for the current fiscal year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Bank of America and Rosenblatt both reiterated bullish views on Snowflake (SNOW), with raised price targets that point to confidence in enterprise demand, AI product traction, and execution ahead of earnings. Article link
• Positive Sentiment: Coverage highlighted Snowflake’s expanding customer base and AI partnerships, suggesting additional upside if the company can keep converting that momentum into revenue growth. Article link
• Positive Sentiment: Investors are focused on the May 27 earnings date as a potential catalyst, with sentiment leaning constructive if Snowflake beats expectations or raises guidance. Article link
• Neutral Sentiment: Pre-earnings previews emphasize key metrics beyond revenue and EPS, indicating that investors will be watching usage trends and other operating indicators closely rather than just headline results. Article link
• Neutral Sentiment: Some commentary says recent weakness may simply reflect normal cooling after a sharp rally, not a major business setback. Article link
• Negative Sentiment: Director Frank Slootman disclosed a sale of 144,650 shares, which can weigh on sentiment even though it was executed under a pre-arranged trading plan. Article link

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $175.19, for a total value of $8,818,714.22. Following the completion of the transaction, the director directly owned 30,236 shares of the company's stock, valued at $5,297,044.84. This represents a 62.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total value of $1,650,100.00. Following the completion of the transaction, the executive vice president directly owned 510,477 shares of the company's stock, valued at approximately $84,233,809.77. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 428,963 shares of company stock valued at $71,996,216. Insiders own 6.80% of the company's stock.

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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