Pinebridge Investments LLC Acquires Shares of 23,973 Snowflake Inc. $SNOW

Key Points

• Pinebridge Investments opened a new position in Snowflake, buying 23,973 shares worth about $5.26 million in the fourth quarter.
• Institutional interest in Snowflake remains strong, with several other funds increasing holdings and 65.10% of the stock now owned by institutions.
• Analysts remain broadly bullish after Snowflake’s strong quarter and AI-related product momentum, though insider selling and concerns about valuation and margins continue to weigh on sentiment.

Pinebridge Investments LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,973 shares of the company's stock, valued at approximately $5,259,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of Snowflake during the fourth quarter valued at $11,432,000. Prudential PLC lifted its holdings in shares of Snowflake by 3.4% during the fourth quarter. Prudential PLC now owns 62,583 shares of the company's stock valued at $13,728,000 after acquiring an additional 2,033 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Snowflake by 12.9% during the fourth quarter. Westfield Capital Management Co. LP now owns 649,105 shares of the company's stock valued at $142,388,000 after acquiring an additional 74,150 shares during the period. Vise Technologies Inc. lifted its holdings in shares of Snowflake by 88.7% during the fourth quarter. Vise Technologies Inc. now owns 6,616 shares of the company's stock valued at $1,451,000 after acquiring an additional 3,109 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Snowflake by 0.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 54,110 shares of the company's stock valued at $11,870,000 after acquiring an additional 300 shares during the period. 65.10% of the stock is owned by institutional investors.

More Snowflake News

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.

Snowflake Stock Performance

Snowflake stock opened at $238.12 on Monday. The stock has a 50-day simple moving average of $165.25 and a 200 day simple moving average of $190.11. The company has a quick ratio of 1.05, a current ratio of 1.05 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 $284.99. The stock has a market capitalization of $82.53 billion, a price-to-earnings ratio of -67.65 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 33.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. On average, research analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 162,924 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $263.70, for a total transaction of $42,963,058.80. Following the completion of the sale, the director directly owned 38,046 shares of the company's stock, valued at approximately $10,032,730.20. The trade was a 81.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $272.00, for a total value of $2,720,000.00. Following the sale, the executive vice president directly owned 418,494 shares of the company's stock, valued at $113,830,368. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,538,672 shares of company stock valued at $346,816,863. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

SNOW has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Snowflake from $216.00 to $278.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Sanford C. Bernstein lifted their price target on Snowflake from $195.00 to $250.00 and gave the company a "market perform" rating in a report on Thursday, May 28th. Loop Capital lifted their price target on Snowflake from $290.00 to $320.00 and gave the company a "buy" rating in a report on Wednesday. Zacks Research raised Snowflake from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Finally, UBS Group set a $320.00 price target on Snowflake in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $290.87.

About Snowflake

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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