QRG Capital Management Inc. Acquires 33,218 Shares of Snowflake Inc. $SNOW

Key Points

• QRG Capital Management increased its Snowflake stake by 67.9% in the second quarter, purchasing 33,218 shares and bringing its total holdings to 82,137 shares valued at approximately $20.9 million.
• Snowflake reported quarterly revenue of $1.55 billion, up 35.1% year over year, and earnings of $0.62 per share, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $414.24.
• Institutional ownership stands at 65.1%, but insiders sold more than 1.33 million shares worth approximately $412.5 million over the past three months, while the company remains unprofitable with a negative net margin.

QRG Capital Management Inc. boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 67.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,137 shares of the company's stock after buying an additional 33,218 shares during the quarter. QRG Capital Management Inc.'s holdings in Snowflake were worth $20,904,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Snowflake in the 4th quarter valued at approximately $974,091,000. Jericho Capital Asset Management L.P. bought a new position in shares of Snowflake in the fourth quarter valued at approximately $345,619,000. Pictet Asset Management Holding SA raised its position in shares of Snowflake by 44.7% in the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company's stock valued at $392,259,000 after purchasing an additional 803,110 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in shares of Snowflake by 4,284.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company's stock worth $105,013,000 after buying an additional 680,397 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Snowflake by 22.2% in the first quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock worth $452,014,000 after buying an additional 544,960 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Mizuho set a $425.00 target price on shares of Snowflake in a research note on Thursday, September 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Snowflake in a research note on Tuesday, September 8th. Truist Financial set a $425.00 price objective on Snowflake and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Wells Fargo & Company increased their target price on Snowflake from $500.00 to $525.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. Finally, Robert W. Baird set a $450.00 target price on Snowflake in a report on Thursday, September 3rd. Thirty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $414.24.

Snowflake Trading Down 0.4%

SNOW stock opened at $335.32 on Thursday. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $384.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The business's 50 day moving average is $315.82 and its 200-day moving average is $235.45. The firm has a market cap of $118.30 billion, a P/E ratio of -105.45 and a beta of 1.33.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%.The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $0.35 EPS. Snowflake's revenue was up 35.1% on a year-over-year basis. Equities analysts anticipate that Snowflake Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 289,685 shares of the business's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $274.39, for a total value of $79,486,667.15. Following the transaction, the director directly owned 28,535 shares in the company, valued at $7,829,718.65. The trade was a 91.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 50,000 shares of the company's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $350.00, for a total transaction of $17,500,000.00. Following the sale, the director directly owned 10,074 shares in the company, valued at $3,525,900. This represents a 83.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,333,861 shares of company stock valued at $412,476,487. 4.80% of the stock is currently owned by company insiders.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Zacks upgraded Snowflake (SNOW) to Rank #2, or “Buy,” citing improving earnings prospects. The upgrade could provide near-term support, although it is based on analyst expectations rather than new company guidance. Snowflake Zacks upgrade
• Positive Sentiment: Liquibase Secure became available through Snowflake Marketplace, expanding the platform’s partner ecosystem and giving customers additional database-change governance tools. The announcement is strategically positive but is unlikely to materially affect near-term revenue by itself. Liquibase Secure on Snowflake Marketplace
• Positive Sentiment: Jim Cramer said Snowflake has “caught fire in recent months,” reinforcing the bullish narrative around its data platform, enterprise software demand and AI opportunity. Jim Cramer comments on Snowflake
• Neutral Sentiment: Brokerage recommendations remain broadly favorable, with a reported “Moderate Buy” consensus and average target near $414. However, the articles caution that sell-side ratings can be overly optimistic and should not be treated as a standalone investment signal. Snowflake brokerage recommendations
• Negative Sentiment: A Trefis analysis questioned whether Snowflake is sacrificing margins to sustain growth. The concern is significant because the company remains unprofitable, with a negative net margin, while its stock has already substantially outperformed the broader market. Snowflake growth and margin analysis
• Negative Sentiment: Director Frank Slootman sold about 300,000 shares for approximately $100.3 million, reducing his direct ownership by more than 84%. The sales were made under a pre-arranged Rule 10b5-1 plan, but their size may heighten profit-taking concerns. Snowflake insider sale filing
• Negative Sentiment: EVP Christian Kleinerman sold 2,622 shares worth about $903,000 to cover tax withholding on vested equity awards. Because the transaction was tax-related and reduced his holdings by only 0.79%, it is a relatively minor bearish signal. Snowflake executive sale filing

Snowflake Profile

Snowflake Inc NYSE: SNOW is a cloud-based data platform company that helps organizations store, process, analyze and share data. Its platform is designed to support data warehousing, data lakes, data engineering, data science, application development and business intelligence across public cloud environments.

Snowflake's Data Cloud enables customers to consolidate and access structured, semi-structured and unstructured data while supporting secure data sharing and collaboration. Its offerings include Snowflake Cortex, which provides artificial intelligence and machine-learning capabilities, as well as tools for developing data applications and using data from Snowflake's marketplace and partner ecosystem.

Founded in 2012, Snowflake serves businesses, government organizations and other institutions globally through cloud infrastructure provided by major public-cloud platforms.

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