Handelsbanken Fonder AB Sells 13,795 Shares of Snowflake Inc. $SNOW

Handelsbanken Fonder AB trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,864 shares of the company’s stock after selling 13,795 shares during the period. Handelsbanken Fonder AB’s holdings in Snowflake were worth $38,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Snowflake by 4.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,640 shares of the company’s stock valued at $417,000 after purchasing an additional 65 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of Snowflake by 5.0% in the 2nd quarter. Fulton Bank N.A. now owns 8,189 shares of the company’s stock worth $2,084,000 after buying an additional 389 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Snowflake by 0.5% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,682 shares of the company’s stock worth $3,482,000 after buying an additional 66 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of Snowflake in the 2nd quarter worth about $67,000. Finally, Arista Wealth Management LLC bought a new stake in shares of Snowflake in the 2nd quarter worth about $636,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Price Performance

Shares of SNOW stock opened at $334.93 on Wednesday. The stock has a 50 day moving average price of $264.72 and a 200 day moving average price of $202.86. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $340.50. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $116.09 billion, a P/E ratio of -95.15 and a beta of 1.33.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.24 EPS. Snowflake’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts predict that Snowflake Inc. will post -1.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of analyst reports. Benchmark increased their price target on shares of Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 28th. KeyCorp boosted their price objective on Snowflake from $285.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. HSBC set a $289.00 price objective on Snowflake and gave the company a “buy” rating in a research report on Friday, May 29th. Evercore reiterated an “outperform” rating and issued a $360.00 target price on shares of Snowflake in a report on Monday. Finally, DA Davidson boosted their target price on Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $301.00.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Large AWS commitment supports growth prospects. Snowflake agreed to a multiyear, $6 billion commitment with Amazon Web Services, reinforcing expectations that enterprises will use Snowflake’s platform to develop and deploy AI applications. The deal, combined with strong interest in Snowflake’s AI tools ahead of its second-quarter results, has helped drive investor optimism. Snowflake Lands a $6 Billion AWS Deal
• Positive Sentiment: AI security and partner ecosystem are expanding. Snowflake launched Cortex AI Gateway to govern, secure, and coordinate first- and third-party AI agents. Integrations with Alteryx, Aembit, and 1Password further strengthen its AI Data Cloud and security ecosystem, potentially improving customer retention and broadening platform usage. Snowflake’s New AI Security Push
• Positive Sentiment: New integrations and customer adoption support enterprise demand. Alteryx One was added to Snowflake Marketplace, giving customers no-code tools for analytics, workflows, and automation using governed enterprise data. Snowflake also is powering Saudi Arabia’s Zahid Group’s data and AI transformation, offering evidence of continued international and enterprise adoption. Snowflake Added a No-Code AI Data App Snowflake Powers Zahid Group’s Data and AI Transformation
• Neutral Sentiment: Valuation is increasingly debated. Snowflake has delivered a substantial three-year return, and some discounted-cash-flow analysis indicates potential undervaluation. However, market-based valuation multiples and broader comparisons suggest the stock may already be expensive, particularly after its recent rally. Is Snowflake Stock a Bargain?
• Neutral Sentiment: An article about “Snowflake Volunteer” refers to an unrelated Tor Android application, not Snowflake Inc.; it should not affect SNOW shares. Snowflake Volunteer Tor Android App

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 25,000 shares of Snowflake stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $325.00, for a total transaction of $8,125,000.00. Following the completion of the sale, the executive vice president owned 340,379 shares in the company, valued at $110,623,175. This trade represents a 6.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Teresa Briggs sold 343 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $255.11, for a total transaction of $87,502.73. Following the completion of the sale, the director directly owned 5,060 shares of the company’s stock, valued at approximately $1,290,856.60. This trade represents a 6.35% 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 sold a total of 2,172,001 shares of company stock valued at $535,037,959 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Snowflake Company 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.