Snowflake Inc. $SNOW Stock Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Snowflake stake by 122.8% in the third quarter, adding 32,620 shares to hold 59,184 shares valued at about $20.1 million. Other institutional investors also raised or initiated positions.
• Snowflake reported quarterly EPS of $0.62, beating the $0.45 consensus, while revenue rose 35.1% year over year to $1.55 billion.
• Insiders sold 1.14 million shares worth about $373.7 million over the past three months. Analysts’ average rating was “Moderate Buy,” with an average price target of $413.87.

CenterBook Partners LP boosted its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 122.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,184 shares of the company's stock after buying an additional 32,620 shares during the quarter. Snowflake makes up 0.9% of CenterBook Partners LP's holdings, making the stock its 11th biggest position. CenterBook Partners LP's holdings in Snowflake were worth $20,097,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SNOW. Alta Advisers Ltd boosted its holdings in shares of Snowflake by 74.0% during the 3rd quarter. Alta Advisers Ltd now owns 2,485 shares of the company's stock worth $844,000 after purchasing an additional 1,057 shares during the last quarter. Kestra Advisory Services LLC increased its stake in Snowflake by 19.3% during the third quarter. Kestra Advisory Services LLC now owns 28,766 shares of the company's stock worth $9,768,000 after acquiring an additional 4,662 shares during the last quarter. Claro Advisors Inc. raised its position in Snowflake by 11.6% in the third quarter. Claro Advisors Inc. now owns 1,476 shares of the company's stock valued at $501,000 after purchasing an additional 154 shares during the period. Genesis Private Wealth LLC purchased a new stake in Snowflake in the third quarter valued at $311,000. Finally, Quadcap Wealth Management LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at $251,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Snowflake news, Director Mark Garrett sold 50,000 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $350.00, for a total value of $17,500,000.00. Following the sale, the director directly owned 10,074 shares of the company's stock, valued at approximately $3,525,900. This represents a 83.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank Slootman sold 300,000 shares of the firm's stock in a transaction on Monday, October 19th. The shares were sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the completion of the sale, the director owned 19,024 shares in the company, valued at $6,019,764.32. The trade was a 94.04% 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. Insiders have sold 1,135,702 shares of company stock worth $373,733,800 over the last three months. Insiders own 4.80% of the company's stock.

Snowflake Stock Up 2.5%

NYSE SNOW traded up $6.78 during trading hours on Friday, hitting $276.32. 4,897,950 shares of the company were exchanged, compared to its average volume of 4,491,674. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06. The firm has a market cap of $97.48 billion, a price-to-earnings ratio of -86.89 and a beta of 1.32. The company has a 50 day moving average of $327.95 and a two-hundred day moving average of $241.66. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $384.56.

Snowflake (NYSE:SNOW - Get Free Report) last announced 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. 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 last year, the business posted $0.35 EPS. The business's quarterly revenue was up 35.1% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -1.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $450.00 price objective on shares of Snowflake in a report on Monday, October 12th. Benchmark boosted their target price on Snowflake from $290.00 to $360.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Snowflake in a research note on Thursday, September 3rd. Finally, Mizuho set a $425.00 price objective on Snowflake in a report on Thursday, September 3rd. Thirty-six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Snowflake has an average rating of "Moderate Buy" and an average price target of $413.87.

Key Stories 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

About Snowflake

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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