Snowflake Inc. $SNOW Stock Purchased by Parallel Advisors LLC

Parallel Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 881.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,609 shares of the company’s stock after buying 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 SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. United Advisor Group LLC purchased a new position in shares of Snowflake during the third quarter worth approximately $278,000. Ashton Thomas Private Wealth LLC increased its holdings in shares of Snowflake by 11.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 15,236 shares of the company’s stock valued at $5,173,000 after acquiring an additional 1,533 shares during the period. CenterBook Partners LP raised its position in Snowflake by 122.8% in the 3rd quarter. CenterBook Partners LP now owns 59,184 shares of the company’s stock valued at $20,097,000 after purchasing an additional 32,620 shares during the last quarter. Alta Advisers Ltd raised its position in Snowflake by 74.0% in the 3rd quarter. Alta Advisers Ltd now owns 2,485 shares of the company’s stock valued at $844,000 after purchasing an additional 1,057 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in Snowflake by 19.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 28,766 shares of the company’s stock valued at $9,768,000 after purchasing an additional 4,662 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of Snowflake stock traded up $6.78 during trading hours on Friday, hitting $276.32. 4,897,950 shares of the company were exchanged, compared to its average volume of 4,491,674. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average of $327.95 and a 200-day moving average of $241.66. The stock has a market capitalization of $97.48 billion, a price-to-earnings ratio of -86.89 and a beta of 1.32.

Snowflake (NYSE:SNOW) last issued its quarterly 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. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. As a group, analysts expect that Snowflake Inc. will post -1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNOW. BTIG Research increased their price target on shares of Snowflake from $340.00 to $424.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Evercore restated an “outperform” rating and issued a $430.00 price objective on shares of Snowflake in a research note on Thursday, September 3rd. Morgan Stanley upped their target price on shares of Snowflake from $300.00 to $470.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Stifel Nicolaus upped their target price on shares of Snowflake from $350.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Yorkville Ives initiated coverage on shares of Snowflake in a research note on Monday, October 5th. They set an “outperform” rating and a $400.00 target price for the company. Thirty-six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $413.87.

Insider Activity

In other news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $353.87, for a total value of $17,813,108.06. Following the sale, the director owned 25,196 shares of the company’s stock, valued at $8,916,108.52. The trade was a 66.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $325.57, for a total transaction of $4,883,550.00. Following the completion of the sale, the executive vice president directly owned 325,379 shares in the company, valued at approximately $105,933,641.03. The trade was a 4.41% 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. Over the last quarter, insiders sold 1,135,702 shares of company stock valued at $373,733,800. 4.80% of the stock is owned by corporate 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.