Parallel Advisors LLC Sells 5,343 Shares of Snowflake Inc. $SNOW

Parallel Advisors LLC decreased its position in Snowflake Inc. (NYSE:SNOW) by 48.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,621 shares of the company’s stock after selling 5,343 shares during the period. Parallel Advisors LLC’s holdings in Snowflake were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC raised its stake in shares of Snowflake by 24.0% in the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after buying an additional 73 shares in the last quarter. Vestmark Advisory Solutions Inc. bought a new position in shares of Snowflake during the 2nd quarter worth about $529,000. Finally, Wedbush Securities Inc. lifted its holdings in shares of Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock worth $832,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a research report on Monday, February 23rd. Stifel Nicolaus set a $205.00 target price on Snowflake in a report on Thursday, February 26th. Sanford C. Bernstein cut their target price on Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a research report on Thursday, February 26th. TD Cowen decreased their price target on Snowflake from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, The Goldman Sachs Group lowered their price target on Snowflake from $286.00 to $246.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.58.

Snowflake Stock Performance

NYSE:SNOW opened at $175.24 on Wednesday. The stock has a market capitalization of $59.97 billion, a P/E ratio of -44.36 and a beta of 1.16. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The firm has a 50 day moving average of $192.07 and a 200-day moving average of $221.90.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company earned $0.30 EPS. Snowflake’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong AI adoption and research tailwinds — Snowflake published research showing broad AI investment and interoperability demand in healthcare, and separate surveys highlight AI‑driven job gains and enterprise ROI from generative AI adoption, supporting the company’s growth narrative around Cortex, Snowflake Intelligence and large AI partnerships. Read More.
• Positive Sentiment: Bullish analyst/features arguing valuation opportunity — Several pieces (e.g., Seeking Alpha) recommend buying SNOW on sustained ~30% revenue growth, improving margins, strong bookings and accelerating AI product adoption — a counterpoint that can attract long‑term investors. Read More.
• Neutral Sentiment: Mixed near‑term performance and analyst mix — Coverage notes a ~19% three‑month pullback driven by margin pressure and competition even as enterprise AI deals give growth upside; Street ratings remain skewed toward Buy but price targets vary materially. Read More.
• Negative Sentiment: Multiple securities class‑action filings and law‑firm notices — Several firms have announced lawsuits and investor deadlines alleging disclosure failures around product efficiency, pricing and revenue impacts (class period cited June 27, 2023–Feb 28, 2024). Litigation heightens uncertainty around potential settlements, legal costs and distracted management. Read More.
• Negative Sentiment: Large insider selling disclosed — Director Michael L. Speiser sold ~50,338 shares (~$8.8M) the week of March 6, materially reducing his holding; sizeable insider sales can be interpreted negatively by the market even if for personal reasons. Read More.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the transaction, the executive vice president directly owned 471,351 shares in the company, valued at approximately $103,650,084.90. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vivek Raghunathan sold 11,801 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the sale, the senior vice president directly owned 218,020 shares in the company, valued at $48,060,328.80. This trade represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 711,140 shares of company stock valued at $144,037,791. 6.80% of the stock is owned by corporate 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.