Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Snowflake Inc. $SNOW

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 315.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 201,401 shares of the company’s stock after acquiring an additional 152,917 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Snowflake worth $45,426,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Snowflake by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock worth $165,123,000 after buying an additional 8,002 shares during the period. Federated Hermes Inc. increased its stake in shares of Snowflake by 13.5% during the third quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock valued at $92,047,000 after buying an additional 48,411 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Snowflake by 32.8% in the third quarter. Penserra Capital Management LLC now owns 153,358 shares of the company’s stock valued at $34,586,000 after acquiring an additional 37,911 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Snowflake by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after acquiring an additional 857,832 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Snowflake in the third quarter worth about $116,882,000. Institutional investors own 65.10% of the company’s stock.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Product and guidance beat — Snowflake reported rising product revenues (Q4 product revs noted at ~$1.22B) and the company expects ~27% YoY revenue growth for Q1 FY27, supporting the growth narrative. SNOW’s Robust Portfolio Fuels Revenue Growth
• Positive Sentiment: Analyst support and AI positioning — At least one recent analyst upgrade and continued coverage on Snowflake’s role in enterprise AI/context reinforce upside potential. Snowflake Gets Upgrade
• Positive Sentiment: Market opportunity — New studies and thought leadership (global GenAI adoption, enterprise AI ROI) bolster the TAM story and customer adoption evidence. India emerges as global leader in GenAI adoption
• Neutral Sentiment: Valuation debate — Analysts note strong growth but some see the current valuation as fair/discounting risk — useful context for positioning but not an immediate catalyst. Snowflake: Strong Growth, But Valuation Appears Fair
• Neutral Sentiment: Sector/industry coverage — Surveys and comparative pieces (AI job surveys, VC recalibration) reinforce demand trends; these are background drivers rather than immediate stock movers. Is AI stealing our jobs?
• Negative Sentiment: Legal risk intensifies — Multiple law firms have issued class‑action notices and reminders (lead‑plaintiff deadlines around April 27, 2026), increasing litigation overhang and potential future liability. Portnoy Law Firm Announces Class Action
• Negative Sentiment: Insider sales and market reaction — Recent Form 4 disclosures show material director and executive stock sales (including Frank Slootman and EVP Christian Kleinerman); coverage links these sales to short‑term downward pressure. Insider Selling: Director Sells $8.8M

Snowflake Price Performance

Shares of SNOW stock opened at $177.39 on Friday. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $60.70 billion, a price-to-earnings ratio of -44.91 and a beta of 1.16. The stock’s 50-day simple moving average is $190.43 and its 200-day simple moving average is $221.30.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 48.50%. Snowflake’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

SNOW has been the topic of a number of research reports. DA Davidson cut their target price on shares of Snowflake from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Evercore upped their price target on shares of Snowflake from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Morgan Stanley dropped their price objective on shares of Snowflake from $270.00 to $245.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Scotiabank reduced their price objective on shares of Snowflake from $290.00 to $205.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 26th. Finally, UBS Group lowered their target price on Snowflake from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $248.58.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 200,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $206.77, for a total transaction of $41,354,000.00. Following the sale, the director directly owned 50,329 shares of the company’s stock, valued at $10,406,527.33. The trade was a 79.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $221.16, for a total value of $11,132,752.08. Following the completion of the transaction, the director directly owned 31,916 shares in the company, valued at approximately $7,058,542.56. The trade was a 61.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 713,732 shares of company stock worth $144,510,676. 6.80% of the stock is owned by company insiders.

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.