Snowflake Inc. $SNOW Stock: Parallel Advisors LLC Boosts Holdings

Key Points

• Parallel Advisors increased its Snowflake stake by 881.9% in the third quarter, ending with 46,609 shares valued at about $15.8 million. Institutional investors and hedge funds own 65.1% of the stock.
• Snowflake reported quarterly earnings of $0.62 per share, beating the $0.45 consensus estimate, while revenue of $1.55 billion topped forecasts and grew 35.1% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $413.87. Insiders sold about 1.14 million shares worth $373.7 million over the past 90 days, while valuation remains a risk amid high growth expectations.

Parallel Advisors LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 881.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,609 shares of the company's stock after acquiring an additional 41,862 shares during the quarter. Parallel Advisors LLC's holdings in Snowflake were worth $15,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Reyes Financial Architecture Inc. acquired a new position in Snowflake during the 3rd quarter worth $32,000. Mather Group LLC. increased its holdings in Snowflake by 98.0% during 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. Ninety One UK Ltd purchased a new stake in Snowflake during the 3rd quarter worth about $36,000. Fortitude Family Office LLC raised its position in Snowflake by 146.7% in the 3rd quarter. Fortitude Family Office LLC now owns 111 shares of the company's stock valued at $38,000 after purchasing an additional 66 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new stake in Snowflake in the 3rd quarter valued at about $41,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Up 2.5%

Shares of SNOW traded up $6.78 during mid-day trading on Friday, reaching $276.32. The company's stock had a trading volume of 4,897,950 shares, compared to its average volume of 4,491,674. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56. The stock has a market cap of $97.48 billion, a PE ratio of -86.89 and a beta of 1.32. The company's 50 day moving average is $327.95 and its 200 day moving average is $241.66.

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

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 300,000 shares of the business's stock in a transaction that occurred 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 approximately $6,019,764.32. The trade was a 94.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $306.01, for a total transaction of $3,060,100.00. Following the sale, the executive vice president owned 303,738 shares of the company's stock, valued at $92,946,865.38. This represents a 3.19% decrease in their position. 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 sold a total of 1,135,702 shares of company stock worth $373,733,800 in the last ninety days. Company insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the subject of a number of analyst reports. Truist Financial set a $425.00 price objective on Snowflake and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Citizens Jmp upped their target price on shares of Snowflake from $408.00 to $488.00 and gave the stock a "market outperform" rating in a research note on Thursday, September 3rd. DA Davidson lifted their price target on shares of Snowflake from $300.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Yorkville Ives began coverage on shares of Snowflake in a report on Monday, October 5th. They set an "outperform" rating and a $400.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Snowflake from $500.00 to $525.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Thirty-six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Snowflake presently has a consensus 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

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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