Snowflake Inc. $SNOW Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Snowflake stake by 57.1% in the fourth quarter, selling 117,975 shares and ending with 88,541 shares valued at about $19.4 million.
• Snowflake continues to attract customer and analyst attention, with Unlimitail choosing its platform for a privacy-preserving retail media data hub and other customers expanding use of Snowflake Cortex AI.
• Despite ongoing competition from Databricks and notable insider selling, analysts still see Snowflake as well positioned, citing strong cash flow, improving price targets, and a consensus Moderate Buy rating.

Engineers Gate Manager LP lessened its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,541 shares of the company's stock after selling 117,975 shares during the quarter. Engineers Gate Manager LP's holdings in Snowflake were worth $19,422,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SNOW. Brighton Jones LLC boosted its holdings in Snowflake by 90.0% in the fourth 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 in the last quarter. Intech Investment Management LLC boosted its holdings in Snowflake by 24.0% in the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock worth $1,637,000 after acquiring an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after acquiring an additional 73 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Snowflake during the second quarter worth about $221,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Snowflake by 7.2% during 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 and hedge funds own 65.10% of the company's stock.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Insider Buying and Selling at Snowflake

In other news, SVP Vivek Raghunathan sold 3,876 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total transaction of $930,240.00. Following the sale, the senior vice president owned 258,689 shares of the company's stock, valued at approximately $62,085,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Garrett sold 100,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 8,801 shares in the company, valued at $2,200,250. This trade represents a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,493,618 shares of company stock worth $343,531,621. 4.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a report on Wednesday, February 18th. BTIG Research lifted their target price on Snowflake from $280.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Zacks Research upgraded Snowflake from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Wedbush lifted their price target on Snowflake from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. Finally, Raymond James Financial restated an "outperform" rating and issued a $275.00 price objective on shares of Snowflake in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $291.77.

Snowflake Price Performance

SNOW opened at $234.24 on Thursday. The stock's 50-day moving average price is $178.86 and its 200 day moving average price is $189.60. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The firm has a market cap of $81.19 billion, a price-to-earnings ratio of -66.55 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion for 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%.Snowflake's revenue for the quarter was up 33.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, sell-side analysts expect that Snowflake Inc. will post -1.87 earnings per share for the current year.

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.

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