Pictet Asset Management Holding SA Has $392.26 Million Stock Holdings in Snowflake Inc. $SNOW

Key Points

• Pictet Asset Management increased its Snowflake stake by 44.7% in Q1, buying over 803,000 shares and bringing its holding to about $392.3 million.
• Wall Street sentiment remains upbeat, with several analysts raising price targets and the consensus rating sitting at “Moderate Buy” with a $293.53 average target.
• Snowflake posted strong quarterly results, beating EPS and revenue estimates and reporting 33.5% year-over-year revenue growth, though recent insider sales may pressure sentiment.

Pictet Asset Management Holding SA boosted its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 44.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,600,571 shares of the company's stock after buying an additional 803,110 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.75% of Snowflake worth $392,259,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Diligent Investors LLC increased its stake in shares of Snowflake by 0.9% in the third quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock worth $1,036,000 after acquiring an additional 40 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Snowflake by 10.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 549 shares of the company's stock valued at $120,000 after purchasing an additional 50 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in Snowflake by 50.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. United Asset Strategies Inc. grew its stake in Snowflake by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company's stock valued at $777,000 after purchasing an additional 50 shares in the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock valued at $31,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNOW. Wedbush raised their price target on Snowflake from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, May 28th. Mizuho boosted their price target on Snowflake from $220.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. TD Cowen restated a "buy" rating and issued a $300.00 price objective on shares of Snowflake in a report on Wednesday, June 3rd. Rosenblatt Securities raised their price objective on shares of Snowflake from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Monness Crespi & Hardt lifted their target price on shares of Snowflake from $282.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and a consensus price target of $293.53.

Insider Activity

In other news, CAO Emily Ho sold 1,860 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $232.25, for a total transaction of $431,985.00. Following the completion of the transaction, the chief accounting officer directly owned 41,283 shares in the company, valued at $9,587,976.75. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Mead Beaulier sold 9,367 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $231.98, for a total value of $2,172,956.66. Following the transaction, the executive owned 234,791 shares of the company's stock, valued at approximately $54,466,816.18. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,702,704 shares of company stock worth $390,771,264 over the last 90 days. Company insiders own 4.80% of the company's stock.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analysts remain constructive on Snowflake, with several firms reiterating Buy/Overweight ratings and raising price targets, reinforcing confidence in its growth outlook and AI-related demand.
• Positive Sentiment: Investor interest is rising around Snowflake’s long-term AI opportunity and its scale in cloud data management, with recent coverage citing strong free cash flow and broad enterprise relevance. GitLab vs. Snowflake: Which Technology Stock Is a Better Buy in 2026?
• Positive Sentiment: Snowflake is attracting more attention from traders and retail investors, which can support momentum when combined with strong fundamentals.
• Neutral Sentiment: Recent articles questioning whether SNOW can rebound or reach higher levels are mostly sentiment-driven and do not indicate a new fundamental catalyst.
• Negative Sentiment: Multiple insider sales, including recent transactions by executives, may weigh on sentiment even though the trades were reportedly made under pre-arranged plans for tax withholding purposes.

Snowflake Stock Up 9.4%

Snowflake stock opened at $248.29 on Friday. The firm has a market cap of $86.06 billion, a price-to-earnings ratio of -70.54 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The firm has a fifty day moving average price of $191.99 and a two-hundred day moving average price of $189.19.

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. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.24 earnings per share. As a group, analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current year.

Snowflake Company 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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