Snowflake Inc. $SNOW Position Cut by Brickley Wealth Management

Key Points

• Brickley Wealth Management reduced its Snowflake position by 26% in the third quarter, selling 6,599 shares and retaining 18,792 shares worth about $6.38 million.
• Analysts remain broadly positive: 36 rate SNOW a Buy, five a Hold and one a Sell, giving it a consensus “Moderate Buy” rating and an average price target of $413.87.
• Snowflake’s latest reported quarter beat estimates, with EPS of $0.62 versus $0.45 expected and revenue of $1.55 billion, up 35.1% year over year. The article also notes that premium valuation could leave the stock sensitive to whether AI-driven growth meets expectations.

Brickley Wealth Management cut its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 26.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,792 shares of the company's stock after selling 6,599 shares during the period. Snowflake makes up 0.9% of Brickley Wealth Management's investment portfolio, making the stock its 19th biggest holding. Brickley Wealth Management's holdings in Snowflake were worth $6,381,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. lifted its position in shares of Snowflake by 417.1% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 905 shares of the company's stock worth $307,000 after buying an additional 730 shares during the last quarter. Carnegie Lake Advisors LLC increased its holdings in shares of Snowflake by 85.8% during the 3rd quarter. Carnegie Lake Advisors LLC now owns 1,700 shares of the company's stock valued at $577,000 after acquiring an additional 785 shares during the last quarter. Ethic Inc. increased its holdings in shares of Snowflake by 31.9% during the 3rd quarter. Ethic Inc. now owns 29,903 shares of the company's stock valued at $10,154,000 after acquiring an additional 7,239 shares during the last quarter. Verus Capital Partners LLC increased its holdings in shares of Snowflake by 25.2% during the 3rd quarter. Verus Capital Partners LLC now owns 1,286 shares of the company's stock valued at $437,000 after acquiring an additional 259 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Snowflake by 881.9% during the 3rd quarter. Parallel Advisors LLC now owns 46,609 shares of the company's stock valued at $15,827,000 after acquiring an additional 41,862 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNOW shares. Mizuho set a $425.00 price objective on Snowflake in a research note on Thursday, September 3rd. Bank of America upped their target price on Snowflake from $330.00 to $395.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Phillip Securities downgraded Snowflake from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, October 12th. Robert W. Baird set a $450.00 price target on Snowflake in a report on Thursday, September 3rd. Finally, Canaccord Genuity Group lifted their price target on shares of Snowflake from $325.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Thirty-six 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $413.87.

Insiders Place Their Bets

In other Snowflake news, CRO Jonathan Beaulier sold 755 shares of the firm's stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $336.36, for a total value of $253,951.80. Following the sale, the executive owned 211,619 shares of the company's stock, valued at $71,180,166.84. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $344.00, for a total value of $138,632.00. Following the completion of the transaction, the director directly owned 21,767 shares in the company, valued at approximately $7,487,848. This represents a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,135,702 shares of company stock worth $373,733,800. Corporate 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: Snowflake unveiled tools aimed at moving enterprise AI agents from pilot projects into production, including features for business context, governance and automating data-engineering work. These offerings could encourage adoption and increase customer usage. Snowflake unveils innovations for the agentic enterprise
• Positive Sentiment: Recent commentary points to AI adoption, customer growth and raised revenue guidance as drivers of Snowflake’s strong year-to-date performance. Another bullish analysis argues that accelerating revenue growth may be underappreciated, though its optimistic price outlook depends on the valuation multiple investors assign the company. Zacks on Snowflake’s growth and valuation · Wall Street may be underestimating Snowflake’s growth potential
• Neutral Sentiment: Former Snowflake revenue chief Mike Gannon is joining AI infrastructure startup Spectro Cloud. The report concerns a former executive and does not describe a change to Snowflake’s operations or outlook. Former Snowflake revenue chief joins Spectro Cloud
• Negative Sentiment: Valuation remains a risk: coverage notes that Snowflake trades at a premium, leaving the stock sensitive to whether its AI-fueled growth can justify expectations. Executive Vice President Christian Kleinerman also sold 10,000 shares for about $3.06 million; the sale was under a pre-arranged trading plan, and he retained more than 303,000 shares. Snowflake executive stock sale

Snowflake Trading Up 0.2%

Shares of NYSE:SNOW opened at $276.32 on Monday. The company has a market cap of $97.48 billion, a P/E ratio of -86.89 and a beta of 1.32. The stock's 50-day moving average is $327.95 and its 200-day moving average is $241.66. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share 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 analysts' expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. The firm's revenue was up 35.1% compared to the same quarter last year. Equities research analysts predict that Snowflake Inc. will post -1.42 earnings per share for the current year.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services.

Snowflake's platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

Founded in 2012, Snowflake went public in 2020.

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