Snowflake Inc. $SNOW Stock: Kornitzer Capital Management Inc. KS Reduces Holdings

Key Points

• Kornitzer Capital Management cut its Snowflake stake by 13.4% in the third quarter, selling 6,029 shares and retaining 38,961 shares valued at about $13.23 million.
• Analyst sentiment was broadly positive: 36 analysts rated SNOW a Buy, five a Hold and one a Sell, for a consensus “Moderate Buy” and an average price target of $413.87.
• Snowflake beat quarterly estimates, reporting $1.55 billion in revenue, up 35.1% year over year, and EPS of $0.62 versus the $0.45 consensus. Company insiders sold about 1.14 million shares worth $373.7 million over the prior 90 days.

Kornitzer Capital Management Inc. KS lowered its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,961 shares of the company's stock after selling 6,029 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Snowflake were worth $13,230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC raised its holdings in shares of Snowflake by 140.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company's stock worth $30,000 after acquiring an additional 118 shares during the period. Emerald Advisers LLC boosted its stake in Snowflake by 95.2% in the 1st quarter. Emerald Advisers LLC now owns 205 shares of the company's stock worth $31,000 after purchasing an additional 100 shares during the period. Reyes Financial Architecture Inc. acquired a new position in Snowflake in the 3rd quarter worth $32,000. Mather Group LLC. boosted its stake in Snowflake by 98.0% in the 3rd quarter. Mather Group LLC. now owns 101 shares of the company's stock worth $34,000 after purchasing an additional 50 shares during the period. Finally, Ninety One UK Ltd bought a new position in Snowflake during the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on SNOW. Phillip Securities downgraded Snowflake from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, October 12th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Snowflake in a research report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Snowflake in a report on Thursday, September 3rd. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, September 3rd. Finally, Canaccord Genuity Group lifted their target price on Snowflake from $325.00 to $450.00 and gave the company a "buy" rating in a research 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $413.87.

Snowflake Stock Up 2.5%

Snowflake stock opened at $276.32 on Friday. The company has a market cap of $97.48 billion, a P/E ratio of -86.89 and a beta of 1.32. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $384.56. The company has a fifty day simple moving average of $327.95 and a 200 day simple moving average of $241.66. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results 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 net margin of 20.07% and a negative return on equity of 46.32%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business earned $0.35 EPS. The company's revenue was up 35.1% compared to the same quarter last year. Research analysts anticipate that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 50,338 shares of the company's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $353.87, for a total transaction of $17,813,108.06. Following the sale, the director owned 25,196 shares in the company, valued at approximately $8,916,108.52. This represents a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the director directly owned 10,074 shares of the company's stock, valued at $3,525,900. This trade represents a 83.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,135,702 shares of company stock worth $373,733,800 over the last 90 days. 4.80% of the stock is currently owned by insiders.

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

Snowflake 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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