Snowflake Inc. $SNOW Holdings Raised by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management increased its Snowflake stake by 5.7% in Q1, buying 15,859 more shares and bringing its total holding to 295,230 shares worth about $44.5 million.
• Snowflake’s latest earnings beat expectations, reporting $0.39 EPS versus $0.32 expected and revenue of $1.39 billion versus $1.32 billion expected, with quarterly revenue up 33.5% year over year.
• Analysts remain broadly bullish on Snowflake, with multiple firms raising price targets and MarketBeat showing a consensus rating of “Moderate Buy” and an average target price of $293.53, though some recent commentary warned its valuation may limit upside.

Peregrine Capital Management LLC increased its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 295,230 shares of the company's stock after purchasing an additional 15,859 shares during the quarter. Snowflake comprises about 1.7% of Peregrine Capital Management LLC's portfolio, making the stock its 12th biggest holding. Peregrine Capital Management LLC owned 0.09% of Snowflake worth $44,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock worth $9,556,000 after acquiring an additional 29,320 shares during the period. Intech Investment Management LLC increased its stake in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock valued at $1,637,000 after acquiring an additional 2,167 shares during the period. Geneos Wealth Management Inc. raised its holdings in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after purchasing an additional 73 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in Snowflake in the second quarter worth approximately $221,000. Finally, The Manufacturers Life Insurance Company lifted its position in Snowflake by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company's stock worth $5,055,000 after purchasing an additional 1,521 shares during the period. Institutional investors own 65.10% of the company's stock.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analyst commentary highlighted accelerating AI monetization at Snowflake and reiterated a bullish view, with Wells Fargo recently lifting its price target to $320 and maintaining a Buy rating. Snowflake’s (SNOW) AI Business Is Growing Faster Than Many Expected As Analysts Revise Target Price Upward
• Positive Sentiment: Recent coverage also pointed to Snowflake as an AI stock with momentum, citing a strong earnings beat, raised guidance, and broader investor interest in buying the name on pullbacks. 5 Tech Stocks to Buy on the July Pullback (SNOW)
• Positive Sentiment: Several articles argued that institutional and analyst sentiment remains supportive, with Snowflake continuing to be framed as a leading AI/data infrastructure winner. Is It Worth Investing in Snowflake (SNOW) Based on Wall Street's Bullish Views?
• Neutral Sentiment: Director Frank Slootman sold a small number of shares under a pre-arranged 10b5-1 plan, which is typically viewed as routine insider activity rather than a strong bearish signal. SEC Form 4 filing
• Neutral Sentiment: Other news items, including Snowflake-related customer and ecosystem mentions such as the World Tour and partner recognition, reinforce the company’s visibility but are unlikely to drive the stock by themselves. Snowflake World Tour | Sydney
• Negative Sentiment: Multiple Seeking Alpha pieces turned cautious, warning that Snowflake’s premium valuation may outweigh the opportunity and that AI enthusiasm could be overhyped. Snowflake: The Valuation Wipes Out Opportunity
• Negative Sentiment: Another downgrade argued that while AI monetization is improving, valuation risks could cap upside from here. Snowflake: Value Maxed Tokens Drive Accelerating AI Monetization - Valuation Risks Ahead (Rating Downgrade)

Snowflake Price Performance

Shares of NYSE:SNOW opened at $254.00 on Wednesday. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The stock has a fifty day moving average of $196.32 and a 200-day moving average of $189.40. The company has a market capitalization of $88.04 billion, a PE ratio of -72.16 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05.

Snowflake (NYSE:SNOW - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.07. The business had revenue of $1.39 billion for 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 company's quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. As a group, equities analysts anticipate that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 437,076 shares of the firm'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 completion of the transaction, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The sale was disclosed in a 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 Snowflake stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the completion of the transaction, the director directly owned 29,396 shares in the company, valued at approximately $4,356,781.16. This trade represents a 63.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,698,928 shares of company stock valued at $390,204,011. 4.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SNOW shares. Raymond James Financial reaffirmed an "outperform" rating and set a $275.00 price target on shares of Snowflake in a research note on Thursday, May 28th. The Goldman Sachs Group upped 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. Mizuho raised their target price on Snowflake from $220.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Snowflake from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Stifel Nicolaus boosted their price target on shares of Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $293.53.

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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