Norges Bank Takes Position in Snowflake Inc. $SNOW

Key Points

• Norges Bank took a new position in Snowflake during the fourth quarter, buying 4,440,606 shares worth about $974.1 million and ending with 1.30% ownership of the company.
• Snowflake shares were up about 7%, and the company reported quarterly earnings of $0.39 per share on revenue of $1.39 billion, both ahead of analyst expectations.
• Analysts turned more bullish after the report, with several firms raising price targets; the consensus rating remains Moderate Buy with an average target of $284.38.

Norges Bank acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,440,606 shares of the company's stock, valued at approximately $974,091,000. Norges Bank owned 1.30% of Snowflake at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SNOW. Assetmark Inc. grew its position in Snowflake by 99.1% in the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company's stock valued at $43,577,000 after acquiring an additional 98,870 shares during the period. Jennison Associates LLC grew its position in Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. William Blair Investment Management LLC bought a new stake in Snowflake in the third quarter valued at $116,882,000. Penserra Capital Management LLC grew its position in Snowflake by 32.8% in the third quarter. Penserra Capital Management LLC now owns 153,358 shares of the company's stock valued at $34,586,000 after acquiring an additional 37,911 shares during the period. Finally, Swedbank AB grew its position in Snowflake by 6.0% in the fourth quarter. Swedbank AB now owns 1,330,415 shares of the company's stock valued at $291,840,000 after acquiring an additional 75,419 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 7.0%

Shares of SNOW opened at $255.94 on Friday. 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 Inc. has a 12-month low of $118.30 and a 12-month high of $280.67. The firm has a market capitalization of $88.48 billion, a PE ratio of -72.71 and a beta of 1.08. The stock's fifty day simple moving average is $156.69 and its 200-day simple moving average is $190.95.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 49.29% and a negative net margin of 23.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The firm's revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -2.2 earnings per share for the current year.

Insider Activity

In other news, Director Frank Slootman sold 400,000 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $233.42, for a total transaction of $93,368,000.00. Following the transaction, the director owned 38,046 shares of the company's stock, valued at $8,880,697.32. This represents a 91.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $175.19, for a total value of $8,818,714.22. Following the transaction, the director directly owned 30,236 shares in the company, valued at $5,297,044.84. This trade represents a 62.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 889,413 shares of company stock valued at $176,342,125 over the last 90 days. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on SNOW shares. Truist Financial reiterated a "buy" rating and issued a $275.00 price target (up from $240.00) on shares of Snowflake in a research report on Thursday. Canaccord Genuity Group upped their price target on Snowflake from $240.00 to $325.00 and gave the company a "buy" rating in a research report on Thursday. Bank of America upped their price target on Snowflake from $205.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday. Benchmark increased their target price on Snowflake from $200.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday. Finally, TD Cowen increased their target price on Snowflake from $255.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $284.38.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake beat Q1 expectations, raised product revenue guidance, and pointed to stronger demand for its AI offerings, reinforcing the growth story. Article Title
• Positive Sentiment: The company’s $6 billion AWS partnership is being viewed as a major AI infrastructure catalyst that could deepen enterprise adoption. Article Title
• Positive Sentiment: Analysts raised price targets and maintained bullish ratings after the earnings report, signaling growing confidence in SNOW’s upside. Article Title
• Positive Sentiment: Snowflake is being repriced as a key “agentic AI” data platform, with investors seeing it as foundational infrastructure for enterprise AI workflows. Article Title
• Neutral Sentiment: Director Frank Slootman disclosed a pre-arranged share sale under a 10b5-1 trading plan, which is noteworthy but not necessarily a negative signal on the business. Article Title

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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