Snowflake Inc. $SNOW Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Snowflake stake by 5.7% in the third quarter, selling 5,344 shares; it held 88,232 shares valued at about $30.1 million at the latest filing.
• Institutional investors collectively own 65.1% of Snowflake, while several funds—including Assenagon—expanded their positions. Recent quarterly revenue rose 35.1% year over year to $1.55 billion, and EPS beat estimates.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $413.87. The article also flags valuation as a risk, as the stock’s premium depends on continued growth.

Candriam S.C.A. decreased its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 5.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,232 shares of the company's stock after selling 5,344 shares during the period. Candriam S.C.A.'s holdings in Snowflake were worth $30,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of Snowflake by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 2,997,385 shares of the company's stock worth $452,014,000 after acquiring an additional 544,960 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Snowflake by 76.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,171,833 shares of the company's stock valued at $176,736,000 after purchasing an additional 509,230 shares in the last quarter. Swiss National Bank boosted its position in Snowflake by 7.1% during the first quarter. Swiss National Bank now owns 944,600 shares of the company's stock valued at $142,465,000 after purchasing an additional 62,600 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Snowflake by 134.5% in the third quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock valued at $268,351,000 after purchasing an additional 453,342 shares during the last quarter. Finally, CI Investments Inc. grew its stake in Snowflake by 34.6% in the first quarter. CI Investments Inc. now owns 720,810 shares of the company's stock valued at $108,713,000 after purchasing an additional 185,261 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Snowflake News Summary

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

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $306.01, for a total transaction of $3,060,100.00. Following the completion of the sale, the executive vice president directly owned 303,738 shares in the company, valued at approximately $92,946,865.38. The trade was a 3.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of the business's stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $336.36, for a total transaction of $253,951.80. Following the sale, the executive directly owned 211,619 shares in the company, valued at $71,180,166.84. This trade represents a 0.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,135,702 shares of company stock worth $373,733,800 in the last quarter. 4.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $276.32 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $97.48 billion, a PE ratio of -86.89 and a beta of 1.32. The business has a 50-day simple moving average of $327.95 and a two-hundred day simple moving average of $241.66. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $384.56.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The company's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SNOW. Piper Sandler restated an "overweight" rating and issued a $450.00 price target (up from $320.00) on shares of Snowflake in a report on Thursday, September 3rd. Citigroup boosted their price objective on shares of Snowflake from $395.00 to $490.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Benchmark increased their target price on shares of Snowflake from $290.00 to $360.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Monness Crespi & Hardt raised their target price on shares of Snowflake from $380.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Mizuho set a $425.00 target price on shares of Snowflake in a research note on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and a consensus price target of $413.87.

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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