Washington Trust Advisors Inc. Sells 4,502 Shares of Snowflake Inc. $SNOW

Key Points

• Washington Trust Advisors reduced its Snowflake stake by 7.5%, selling 4,502 shares and retaining 55,518 shares worth approximately $14.1 million. Institutional investors collectively own 65.1% of Snowflake.
• Snowflake reported strong quarterly results, with adjusted EPS of $0.62 versus the $0.45 consensus estimate and revenue up 35.1% year over year to $1.55 billion. Management cited accelerating AI demand and raised fiscal 2027 product-revenue guidance.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $414.24, although insiders have sold approximately $318 million of stock over the past three months and valuation and margin risks remain.

Washington Trust Advisors Inc. reduced its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 55,518 shares of the company's stock after selling 4,502 shares during the quarter. Snowflake makes up about 1.0% of Washington Trust Advisors Inc.'s portfolio, making the stock its 24th largest holding. Washington Trust Advisors Inc.'s holdings in Snowflake were worth $14,129,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNOW. Kemnay Advisory Services Inc. acquired a new position in shares of Snowflake during the fourth quarter worth $28,000. Greenline Wealth Management LLC acquired a new stake in Snowflake in the fourth quarter valued at $29,000. Basecamp Wealth Advisors LLC raised its position in Snowflake by 140.5% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 202 shares of the company's stock worth $30,000 after purchasing an additional 118 shares during the last quarter. Emerald Advisers LLC raised its position in Snowflake by 95.2% during 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 last quarter. Finally, MV Capital Management Inc. acquired a new position in Snowflake during the 4th quarter worth about $32,000. Institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $325.00, for a total value of $8,125,000.00. Following the completion of the sale, the executive vice president owned 340,379 shares of the company's stock, valued at approximately $110,623,175. This trade represents a 6.84% decrease in their ownership of the stock. The sale 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 Frank Slootman sold 289,685 shares of the business's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $274.39, for a total value of $79,486,667.15. Following the sale, the director owned 28,535 shares of the company's stock, valued at approximately $7,829,718.65. This represents a 91.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,131,160 shares of company stock valued at $317,966,701. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of analyst reports. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday. TD Cowen raised their price objective on Snowflake from $370.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday. Sanford C. Bernstein lifted their price objective on Snowflake from $195.00 to $250.00 and gave the stock a "market perform" rating in a research note on Thursday, May 28th. Monness Crespi & Hardt increased their target price on shares of Snowflake from $380.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Citigroup raised their price target on shares of Snowflake from $395.00 to $490.00 and gave the stock a "buy" rating in a report on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have issued 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 a consensus target price of $414.24.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

Snowflake Trading Up 0.4%

NYSE:SNOW opened at $338.47 on Monday. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $384.56. 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 stock has a market capitalization of $117.31 billion, a price-to-earnings ratio of -106.44 and a beta of 1.33. The firm has a fifty day simple moving average of $297.66 and a two-hundred day simple moving average of $220.60.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.17. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. The business's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. Analysts expect that Snowflake Inc. will post -1.8 EPS for the current fiscal year.

Snowflake Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source