Atreides Management LP Grows Position in Snowflake Inc. $SNOW

Atreides Management LP lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 478,754 shares of the company’s stock after acquiring an additional 9,209 shares during the quarter. Snowflake accounts for about 1.3% of Atreides Management LP’s investment portfolio, making the stock its 12th largest holding. Atreides Management LP’s holdings in Snowflake were worth $105,019,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SNOW. Kemnay Advisory Services Inc. purchased a new position in Snowflake during the 4th quarter valued at about $28,000. Greenline Wealth Management LLC purchased a new position in Snowflake during the 4th quarter valued at about $29,000. GoalVest Advisory LLC boosted its holdings in Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares during the period. Physician Wealth Advisors Inc. boosted its holdings in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after acquiring an additional 51 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in Snowflake by 50.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 50 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNOW. Benchmark raised their target price on Snowflake from $200.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Morgan Stanley raised their target price on Snowflake from $245.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Wednesday, February 18th. Canaccord Genuity Group raised their target price on Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Oppenheimer raised their target price on Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.77.

Insider Buying and Selling at Snowflake

In other news, SVP Vivek Raghunathan sold 3,876 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total transaction of $930,240.00. Following the sale, the senior vice president owned 258,689 shares of the company’s stock, valued at approximately $62,085,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director directly owned 8,801 shares in the company, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,493,618 shares of company stock worth $343,531,621. 4.80% of the stock is currently owned by corporate insiders.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake announced that Unlimitail chose its platform to power a privacy-preserving retail media data hub across Europe and Latin America, expanding Snowflake’s footprint in retail media and highlighting demand for its data clean room and AI data cloud products. BusinessWire article
• Positive Sentiment: Analysts at Jefferies said Snowflake still looks well-positioned despite rising competition from Databricks, arguing that both firms can benefit from continued enterprise spending on data and AI infrastructure. Proactive Investors article
• Positive Sentiment: Another analyst note said Snowflake remains attractive because of its strong cash flow and relatively lower valuation versus its growth profile, supporting the stock’s investment case. Benzinga article
• Neutral Sentiment: Snowflake also said EDO is expanding its use of Snowflake Cortex AI to power ChatEDO, a sign that customers continue to build AI products on the platform. Yahoo Finance article
• Negative Sentiment: Snowflake insiders, including director Frank Slootman, SVP Vivek Raghunathan, and EVP Christian Kleinerman, sold shares under pre-arranged Rule 10b5-1 plans to cover tax withholding on equity awards. While routine, insider selling can still weigh on sentiment. SEC filing
• Negative Sentiment: Investor focus also remains on intensifying competition from Databricks, which may pressure Snowflake’s growth narrative even as analysts say both companies can coexist. Proactive Investors article

Snowflake Price Performance

Shares of NYSE SNOW opened at $234.24 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The firm has a market capitalization of $81.19 billion, a PE ratio of -66.55 and a beta of 1.35. The stock’s 50-day simple moving average is $178.86 and its 200-day simple moving average is $189.60.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping 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 business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $0.24 EPS. The business’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts forecast that Snowflake Inc. will post -1.87 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.