Light Street Capital Management LLC Buys Shares of 70,000 Snowflake Inc. $SNOW

Light Street Capital Management LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 70,000 shares of the company’s stock, valued at approximately $17,815,000. Snowflake comprises 2.0% of Light Street Capital Management LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds also recently modified their holdings of SNOW. Kemnay Advisory Services Inc. purchased a new position in Snowflake in the fourth quarter valued at approximately $28,000. Greenline Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth $29,000. MV Capital Management Inc. bought a new stake in shares of Snowflake in the fourth quarter valued at $32,000. Copos Capital S.a r.l. bought a new stake in shares of Snowflake in the fourth quarter valued at $35,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Snowflake during the 3rd quarter valued at $39,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW traded down $2.32 during trading on Tuesday, reaching $334.86. 5,282,759 shares of the company were exchanged, compared to its average volume of 6,847,064. The company’s 50-day moving average is $299.42 and its two-hundred day moving average is $221.73. The company has a market cap of $116.06 billion, a price-to-earnings ratio of -105.30 and a beta of 1.33. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 12-month low of $118.30 and a 12-month high of $384.56.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative return on equity of 47.20% and a negative net margin of 20.07%.The firm’s revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. Research analysts forecast that Snowflake Inc. will post -1.8 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 48,990 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $320.78, for a total transaction of $15,715,012.20. Following the sale, the director owned 28,535 shares of the company’s stock, valued at approximately $9,153,457.30. This represents a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $380.00, for a total transaction of $3,800,000.00. Following the completion of the sale, the executive vice president owned 18,568 shares in the company, valued at $7,055,840. This represents a 35.00% decrease in their ownership of the stock. 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 ninety days, insiders have sold 1,128,431 shares of company stock valued at $317,314,470. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNOW. Morgan Stanley increased their price target on Snowflake from $300.00 to $470.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Snowflake in a report on Thursday, September 3rd. Rosenblatt Securities increased their target price on shares of Snowflake from $285.00 to $345.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. Needham & Company LLC lifted their target price on shares of Snowflake from $330.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Finally, Jefferies Financial Group set a $430.00 price target on shares of Snowflake and gave the company a “buy” rating in a research report on Thursday, September 3rd. Thirty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $414.24.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: AI-driven growth is strengthening. Snowflake’s AI Data Cloud is gaining traction with enterprises, while product revenue increased 37%. The company is expanding its cloud analytics capabilities and positioning itself as a competitor to larger providers such as Oracle and Dell Technologies. Snowflake Expands AI Strategy as Revenue Tops US$1.49bn
• Positive Sentiment: Results and guidance have supported the stock. Recent earnings exceeded expectations, with revenue of approximately $1.55 billion versus a $1.48 billion consensus estimate and adjusted EPS of $0.62 versus $0.45 expected. Management also raised guidance, reinforcing the view that AI workloads are translating into higher consumption and revenue. Snowflake Stock Surges 17% After Earnings
• Positive Sentiment: Investor and analyst sentiment remains favorable. Wall Street’s average recommendation is equivalent to a Buy, and Snowflake was among the software companies that helped revive investor enthusiasm for AI-related software after earnings. Wall Street Bulls Look Optimistic About Snowflake
• Neutral Sentiment: Management’s conference presentation is the next catalyst. Snowflake’s appearance at the Goldman Sachs Communacopia + Technology Conference gives investors an opportunity to assess commentary on AI adoption, enterprise demand, consumption trends and future guidance. Snowflake Goldman Sachs Conference Transcript
• Negative Sentiment: Valuation is a major risk. Following the rally, Snowflake reportedly trades at roughly 152 times expected fiscal 2027 earnings. That premium leaves the stock vulnerable to a pullback if growth, guidance or AI monetization falls short of elevated expectations. Snowflake’s Growth Is Accelerating. So Is the Valuation Risk

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.