Snowflake Inc. $SNOW Stake Reduced by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its stake in Snowflake Inc. (NYSE:SNOW) by 45.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,239 shares of the company’s stock after selling 3,513 shares during the period. SteelPeak Wealth LLC’s holdings in Snowflake were worth $639,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Snowflake during the fourth quarter worth about $974,091,000. Jennison Associates LLC lifted its position in Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after purchasing an additional 2,519,413 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in Snowflake in the 4th quarter valued at about $345,619,000. Vanguard Group Inc. boosted its stake in Snowflake by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after purchasing an additional 1,448,094 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Snowflake by 445.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,490,569 shares of the company’s stock valued at $326,971,000 after purchasing an additional 1,217,350 shares during the period. 65.10% of the stock is currently owned by institutional investors.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on Snowflake to $313 from $284 and reiterated an outperform rating, signaling confidence in further upside. Article
• Positive Sentiment: KeyCorp lifted its target to $325 from $285 and kept an overweight rating, adding to the bullish analyst sentiment around SNOW. Article
• Positive Sentiment: RBC said CEO Sridhar Ramaswamy’s performance-based stock award is another positive sign for Snowflake’s AI growth strategy, suggesting management incentives are aligned with long-term value creation. Article
• Positive Sentiment: Media coverage highlighted Snowflake as one of the “hypergrowth” or “surprise” stocks to watch for 2026, reinforcing investor interest in the company’s AI and cloud growth narrative. Article
• Neutral Sentiment: Snowflake also unveiled a large CEO pay plan tied to ambitious long-term stock-price goals, which may be viewed as a commitment to growth but could draw scrutiny over compensation levels. Article
• Neutral Sentiment: Snowflake’s recent article coverage also noted continued product progress, including secure AI workflows for financial-data customers through Rogo, supporting the company’s broader AI adoption story. Article

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNOW shares. Citigroup raised their price target on shares of Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Canaccord Genuity Group boosted their price objective on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. HSBC set a $289.00 price objective on Snowflake and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings cut Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of Snowflake in a research note on Monday, June 22nd. Thirty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $296.00.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $268.85 on Friday. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The stock has a market cap of $93.18 billion, a price-to-earnings ratio of -76.38 and a beta of 1.35. The stock’s 50 day moving average price is $227.43 and its 200 day moving average price is $193.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. Equities research analysts anticipate that Snowflake Inc. will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Emily Ho sold 1,860 shares of Snowflake stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $232.25, for a total transaction of $431,985.00. Following the transaction, the chief accounting officer directly owned 41,283 shares of the company’s stock, valued at $9,587,976.75. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 840 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $257.91, for a total transaction of $216,644.40. Following the completion of the sale, the director owned 26,876 shares in the company, valued at approximately $6,931,589.16. This trade represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,802,015 shares of company stock valued at $421,739,629. 4.80% of the stock is currently owned by insiders.

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.