Rhumbline Advisers Sells 4,225 Shares of Snowflake Inc. $SNOW

Rhumbline Advisers cut its holdings in Snowflake Inc. (NYSE:SNOW) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 430,781 shares of the company’s stock after selling 4,225 shares during the period. Rhumbline Advisers’ holdings in Snowflake were worth $97,163,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at about $25,000. Avion Wealth boosted its holdings in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in Snowflake in the 3rd quarter worth approximately $28,000. Rossby Financial LCC grew its position in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Snowflake by 4,333.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock valued at $30,000 after buying an additional 130 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frank Slootman sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $221.83, for a total transaction of $44,366,000.00. Following the transaction, the director owned 50,329 shares of the company’s stock, valued at approximately $11,164,482.07. This represents a 79.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $249.53, for a total value of $2,495,300.00. Following the completion of the sale, the executive vice president owned 512,450 shares in the company, valued at approximately $127,871,648.50. The trade was a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 613,681 shares of company stock valued at $130,573,518 in the last quarter. 6.80% of the stock is currently owned by company insiders.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Big strategic catalyst — Snowflake expanded its AI stack via a reported $200M partnership with OpenAI, positioning SNOW deeper in enterprise AI deployments and potentially driving future ARR and upsells. Read More.
• Positive Sentiment: Enterprise integrations broaden data intake and stickiness: Experian announced integration with Snowflake’s AI Data Cloud, which can increase enterprise use cases and data flows into Snowflake. Read More.
• Positive Sentiment: Vertical customer wins — RESAAS integration enables proprietary real-estate data to feed directly into customer Snowflake environments, illustrating continued ecosystem traction. Read More.
• Positive Sentiment: Technical/market catalyst — coverage noting heavy short interest across software names suggests a short-squeeze possibility that could amplify rallies in SNOW if sentiment stabilizes. Read More.
• Neutral Sentiment: Macro/sector framing — strategists say recent AI-fueled fears created a buying opportunity in quality software names, which could support a rebound in SNOW if macro sentiment improves. Read More.
• Neutral Sentiment: Market noise — recent headlines and aggregator pieces explain intraday swings and analyst views, producing mixed short-term trading signals for SNOW. Read More.
• Negative Sentiment: Regulatory/legal overhang — a law firm announced an investigation into whether Snowflake or its officers complied with securities laws, creating downside risk from potential litigation, disclosures or settlement costs. Read More.
• Negative Sentiment: Short-term weakness / technicals — commentary and data show SNOW recently moved below key moving averages and underperformed the market on the latest session, and the company still reports negative net margins and ROE despite revenue beats, factors that can pressure valuation multiples. Read More.

Analysts Set New Price Targets

Several brokerages recently commented on SNOW. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Snowflake in a report on Thursday, December 4th. JMP Securities raised their target price on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 28th. Mizuho upped their price target on shares of Snowflake from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Monday, November 17th. Argus upgraded shares of Snowflake from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Thursday, January 8th. Finally, Barclays restated an “equal weight” rating and set a $250.00 target price (down from $290.00) on shares of Snowflake in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $274.68.

Snowflake Price Performance

Snowflake stock opened at $178.83 on Thursday. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average is $210.77 and its 200 day moving average is $225.74. The company has a market cap of $61.20 billion, a price-to-earnings ratio of -44.27 and a beta of 1.14.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $0.20 EPS. The business’s quarterly revenue was up 28.7% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

About Snowflake

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.