Legal & General Group Plc Buys 89,191 Shares of Snowflake Inc. $SNOW

Key Points

• Legal & General raised its Q3 stake in Snowflake by 5.1%, adding 89,191 shares to hold 1,853,589 shares (about 0.55% of the company) valued at roughly $418.1 million.
• Heavy insider selling has occurred recently—insiders sold 711,140 shares (about $144.0 million) over the last 90 days, leaving corporate insiders with approximately 6.8% ownership.
• Analyst sentiment is a "Moderate Buy" with an average price target of $248.58, while Snowflake recently beat EPS and revenue estimates and trades near $175 despite ~30% year‑over‑year revenue growth.

Legal & General Group Plc increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 5.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,853,589 shares of the company's stock after acquiring an additional 89,191 shares during the period. Legal & General Group Plc owned about 0.55% of Snowflake worth $418,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Vanguard Group Inc. lifted its holdings in shares of Snowflake by 3.1% during the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company's stock worth $6,461,465,000 after purchasing an additional 857,832 shares during the period. Jennison Associates LLC lifted its holdings in Snowflake by 13.5% during the 3rd quarter. Jennison Associates LLC now owns 9,083,889 shares of the company's stock worth $2,048,871,000 after buying an additional 1,083,222 shares during the period. State Street Corp grew its position in shares of Snowflake by 1.4% in the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company's stock valued at $1,541,120,000 after buying an additional 94,293 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Snowflake by 15.2% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company's stock valued at $1,108,045,000 after buying an additional 652,485 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Snowflake by 3.1% in the second quarter. Geode Capital Management LLC now owns 4,424,120 shares of the company's stock valued at $986,057,000 after buying an additional 133,059 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total transaction of $1,650,100.00. Following the sale, the executive vice president owned 510,477 shares in the company, valued at approximately $84,233,809.77. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $175.19, for a total value of $70,601.57. Following the transaction, the director directly owned 23,315 shares in the company, valued at approximately $4,084,554.85. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 711,140 shares of company stock valued at $144,037,791. 6.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen cut their price objective on Snowflake from $270.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Monness Crespi & Hardt increased their target price on shares of Snowflake from $275.00 to $282.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. UBS Group lowered their price target on shares of Snowflake from $265.00 to $235.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Snowflake in a research report on Wednesday, January 21st. Finally, Robert W. Baird increased their price objective on shares of Snowflake from $260.00 to $270.00 and gave the stock an "outperform" rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $248.58.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $175.24 on Wednesday. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The stock has a market cap of $59.97 billion, a PE ratio of -44.36 and a beta of 1.16. The stock's fifty day simple moving average is $192.07 and its two-hundred day simple moving average is $221.90. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

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

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong AI adoption and research tailwinds — Snowflake published research showing broad AI investment and interoperability demand in healthcare, and separate surveys highlight AI‑driven job gains and enterprise ROI from generative AI adoption, supporting the company’s growth narrative around Cortex, Snowflake Intelligence and large AI partnerships. Read More.
• Positive Sentiment: Bullish analyst/features arguing valuation opportunity — Several pieces (e.g., Seeking Alpha) recommend buying SNOW on sustained ~30% revenue growth, improving margins, strong bookings and accelerating AI product adoption — a counterpoint that can attract long‑term investors. Read More.
• Neutral Sentiment: Mixed near‑term performance and analyst mix — Coverage notes a ~19% three‑month pullback driven by margin pressure and competition even as enterprise AI deals give growth upside; Street ratings remain skewed toward Buy but price targets vary materially. Read More.
• Negative Sentiment: Multiple securities class‑action filings and law‑firm notices — Several firms have announced lawsuits and investor deadlines alleging disclosure failures around product efficiency, pricing and revenue impacts (class period cited June 27, 2023–Feb 28, 2024). Litigation heightens uncertainty around potential settlements, legal costs and distracted management. Read More.
• Negative Sentiment: Large insider selling disclosed — Director Michael L. Speiser sold ~50,338 shares (~$8.8M) the week of March 6, materially reducing his holding; sizeable insider sales can be interpreted negatively by the market even if for personal reasons. Read More.

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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