Quantinno Capital Management LP Sells 40,056 Shares of Snowflake Inc. $SNOW

Key Points

• Quantinno Capital Management cut its Snowflake position by 32.1%, selling 40,056 shares and retaining 84,662 shares valued at approximately $12.8 million. Institutional investors collectively own 65.1% of the company.
• Snowflake insiders sold heavily: insiders sold 2.08 million shares worth about $505.9 million over the past three months, including major sales by directors Frank Slootman and Michael L. Speiser under pre-arranged trading plans.
• Analyst sentiment remains positive, with 34 Buy ratings and a consensus price target of $296.68. Snowflake also exceeded quarterly earnings and revenue expectations, with revenue rising 33.5% year over year, although the company remains unprofitable.

Quantinno Capital Management LP lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 32.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,662 shares of the company's stock after selling 40,056 shares during the quarter. Quantinno Capital Management LP's holdings in Snowflake were worth $12,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. ABS Direct Equity Fund LLC bought a new position in Snowflake in the 1st quarter worth $101,000. Family Manage LLC increased its position in Snowflake by 97.8% in the first quarter. Family Manage LLC now owns 2,223 shares of the company's stock worth $335,000 after buying an additional 1,099 shares in the last quarter. Gateway Wealth Partners LLC bought a new position in shares of Snowflake in the first quarter worth about $236,000. Delta Global Management LP raised its stake in shares of Snowflake by 13.6% in the first quarter. Delta Global Management LP now owns 142,684 shares of the company's stock worth $21,520,000 after buying an additional 17,125 shares during the period. Finally, Everest Financial Group LLC lifted its position in shares of Snowflake by 47.4% during the 1st quarter. Everest Financial Group LLC now owns 1,785 shares of the company's stock valued at $269,000 after buying an additional 574 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: BTIG raises price target: BTIG Research increased its Snowflake price target from $325 to $340 and maintained a “buy” rating, implying further upside and signaling confidence in demand for Snowflake’s data-cloud and AI offerings. Snowflake To Rally Around 16%? Here Are 10 Top Analyst Forecasts For Monday
• Positive Sentiment: AI-cloud rally lifts SNOW: Snowflake gained alongside CoreWeave and Oracle as a broad risk-on mood drove buying across AI infrastructure and cloud stocks. This indicates strong sector momentum, although the move is partly market-driven rather than specific to Snowflake. CoreWeave Jumps 11%, Snowflake Gains 6%, Oracle Climbs 5% as Risk-On Mood Lifts AI Cloud
• Positive Sentiment: Enterprise AI positioning: Coverage comparing Snowflake with Palantir highlights both companies’ recent results and their roles in the enterprise AI stack. Snowflake’s focus on trusted enterprise data and context supports the long-term growth narrative. Palantir vs. Snowflake: Which Growth Stock Is the Better Buy?
• Neutral Sentiment: Insider sales disclosed: EVP Christian Kleinerman sold a combined 29,986 shares for approximately $9 million under a pre-arranged Rule 10b5-1 trading plan. Because the sales were scheduled in advance and he retained about 375,379 shares, the transactions are a limited concern but may temper sentiment near recent highs. SEC insider trading filing

Insiders Place Their Bets

In other news, Director Frank Slootman sold 437,076 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $252.43, for a total value of $110,331,094.68. Following the sale, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. The trade was a 91.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 dated Friday, June 5th. The shares were sold at an average price of $245.21, for a total transaction of $12,343,380.98. Following the sale, the director owned 27,716 shares in the company, valued at $6,796,240.36. This represents a 64.49% 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. Insiders sold 2,081,260 shares of company stock valued at $505,874,831 in the last three months. Corporate insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $282.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Oppenheimer upped their price target on shares of Snowflake from $250.00 to $295.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. Raymond James Financial reiterated an "outperform" rating and issued a $275.00 price target on shares of Snowflake in a research report on Thursday, May 28th. Finally, Stifel Nicolaus increased their price objective on shares of Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $296.68.

Snowflake Price Performance

Shares of Snowflake stock opened at $307.83 on Tuesday. The company has a current ratio of 1.05, a quick 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 $315.42. The stock has a 50 day moving average of $253.43 and a 200 day moving average of $197.89. The firm has a market cap of $106.69 billion, a PE ratio of -87.45 and a beta of 1.33.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. Snowflake's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. On average, research analysts expect that Snowflake Inc. will post -1.84 EPS for the current fiscal 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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