Los Angeles Capital Management LLC Decreases Stake in Snowflake Inc. $SNOW

Key Points

• Los Angeles Capital Management reduced its Snowflake stake by 18.7% in the fourth quarter, selling 70,163 shares and leaving it with 304,228 shares valued at about $66.7 million.
• Snowflake continues to draw mostly upbeat analyst coverage, with several firms raising price targets and the consensus rating remaining Moderate Buy with an average target price of $290.87.
• The company’s latest earnings topped expectations, as Snowflake reported $0.39 EPS on $1.39 billion in revenue, while revenue rose 33.5% year over year despite ongoing losses and insider selling.

Los Angeles Capital Management LLC lessened its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 18.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 304,228 shares of the company's stock after selling 70,163 shares during the quarter. Los Angeles Capital Management LLC owned 0.09% of Snowflake worth $66,735,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GoalVest Advisory LLC boosted its stake in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock valued at $30,000 after buying an additional 93 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after acquiring an additional 51 shares in the last quarter. HHM Wealth Advisors LLC raised its position in shares of Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock worth $33,000 after acquiring an additional 50 shares in the last quarter. Ameriflex Group Inc. raised its position in shares of Snowflake by 252.2% during the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company's stock worth $37,000 after acquiring an additional 116 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Key Headlines Impacting Snowflake

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 Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 437,076 shares of Snowflake stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares in the company, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the transaction, the director owned 29,396 shares in the company, valued at $4,356,781.16. This trade represents a 63.13% decrease in their ownership of the stock. 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 have sold 1,538,672 shares of company stock worth $346,816,863. 4.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNOW shares. Raymond James Financial reissued an "outperform" rating and set a $275.00 target price on shares of Snowflake in a research report on Thursday, May 28th. KeyCorp set a $295.00 target price on Snowflake in a research report on Thursday, May 28th. Loop Capital raised their target price on Snowflake from $290.00 to $320.00 and gave the stock a "buy" rating in a research report on Wednesday. Scotiabank reissued an "outperform" rating on shares of Snowflake in a research report on Thursday, May 28th. Finally, Barclays raised their target price on Snowflake from $272.00 to $285.00 and gave the stock an "equal weight" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $290.87.

Snowflake Trading Down 2.5%

SNOW opened at $238.12 on Friday. The firm has a market cap of $82.32 billion, a price-to-earnings ratio of -67.65 and a beta of 1.35. Snowflake Inc. has a 52 week low of $118.30 and a 52 week high of $284.99. The business's 50 day moving average is $165.25 and its two-hundred day moving average is $190.55. The company has a quick ratio of 1.30, a current ratio of 1.05 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm's revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, research analysts predict that Snowflake Inc. will post -1.87 EPS for the current year.

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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