Snowflake Inc. $SNOW Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners LP sharply reduced its Snowflake position in the fourth quarter, selling 93,498 shares and cutting its holdings by 84.4% to 17,339 shares valued at about $3.8 million.
• Snowflake’s latest quarterly results beat expectations, with EPS of $0.39 versus the $0.32 estimate and revenue of $1.39 billion, up 33.5% year over year.
• Insider selling and mixed analyst sentiment remain in focus: directors Mark Garrett and Frank Slootman sold large blocks of shares, while Wall Street’s consensus rating is Moderate Buy with a target price of $291.77.

CenterBook Partners LP lessened its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 84.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,339 shares of the company's stock after selling 93,498 shares during the quarter. CenterBook Partners LP's holdings in Snowflake were worth $3,803,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its position in Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock worth $30,000 after acquiring an additional 93 shares during the period. Physician Wealth Advisors Inc. boosted its position in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after acquiring an additional 51 shares during the period. HHM Wealth Advisors LLC boosted its position in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock worth $33,000 after acquiring an additional 50 shares during the period. Ameriflex Group Inc. boosted its position in Snowflake by 252.2% during the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company's stock worth $37,000 after acquiring an additional 116 shares during the period. Finally, JPL Wealth Management LLC acquired a new position in Snowflake during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Up 0.9%

Shares of Snowflake stock opened at $240.29 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market cap of $83.29 billion, a price-to-earnings ratio of -68.26 and a beta of 1.35. The business has a fifty day simple moving average of $166.80 and a 200-day simple moving average of $190.01. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates 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 revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, equities analysts forecast that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Activity at Snowflake

In related news, Director Mark Garrett sold 100,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the transaction, the director owned 8,801 shares in the company, valued at $2,200,250. This trade represents a 91.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 437,076 shares of the stock in a transaction on 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 owned 38,046 shares of the company's stock, valued at $9,603,951.78. This trade represents a 91.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,586,821 shares of company stock worth $358,786,179 in the last quarter. 4.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SNOW shares. Morgan Stanley boosted their price target on Snowflake from $245.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Guggenheim restated a "neutral" rating on shares of Snowflake in a report on Wednesday, February 18th. BTIG Research upped their price objective on Snowflake from $280.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Snowflake from $245.00 to $285.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus target price of $291.77.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Benchmark reiterated a Buy rating and $270 price target, calling Snowflake a mission-critical AI control plane and reinforcing the bullish case for the stock. Benchmark Sees Snowflake (SNOW) as Mission-Critical AI Control Plane
• Positive Sentiment: Multiple articles highlighted Snowflake as one of the AI names that has gained more than 25% over the past month, suggesting sustained investor enthusiasm around AI-driven demand. 3 AI Behemoths in Focus for More Than 25% Returns in the Past Month
• Positive Sentiment: Informatica announced new Snowflake integrations aimed at improving AI trust and governance, which supports Snowflake’s ecosystem and enterprise relevance. Informatica enhances AI trust and governance with new Snowflake integrations
• Positive Sentiment: Several bullish pieces argued Snowflake could be attractive to buy now, reflecting ongoing investor interest in the company’s cloud data platform and AI growth story. Is Snowflake Inc. (SNOW) A Good Stock To Buy Now?
• Neutral Sentiment: CEO Sridhar Ramaswamy’s recent comments on pricing discipline and organizational structure are more about Snowflake’s long-term strategy than an immediate stock catalyst. Have to show value to make money: Snowflake CEO Sridhar Ramaswamys pricing advice for software companies to survive in AI era
• Negative Sentiment: Director Michael L. Speiser sold a large block of shares, which can weigh on sentiment even though the trades were made under a pre-arranged 10b5-1 plan. SEC filing for Michael L. Speiser transaction

About Snowflake

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.