32,620 Snowflake Inc. $SNOW Shares Purchased by CenterBook Partners LP

CenterBook Partners LP boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 122.8% in the 3rd quarter, Holdings Channel reports. The firm owned 59,184 shares of the company’s stock after purchasing an additional 32,620 shares during the period. Snowflake accounts for about 0.9% of CenterBook Partners LP’s investment portfolio, making the stock its 11th biggest holding. CenterBook Partners LP’s holdings in Snowflake were worth $20,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Reyes Financial Architecture Inc. acquired a new position in shares of Snowflake during the 3rd quarter worth $32,000. Mather Group LLC. boosted its position in Snowflake by 98.0% during the third quarter. Mather Group LLC. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 50 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of Snowflake in the third quarter valued at $36,000. Fortitude Family Office LLC lifted its holdings in shares of Snowflake by 146.7% during the 3rd quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $38,000 after acquiring an additional 66 shares during the period. Finally, GK Wealth Management LLC acquired a new position in Snowflake during the third quarter worth approximately $41,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake unveiled tools aimed at moving enterprise AI agents from pilot projects into production, including features for business context, governance and automating data-engineering work. These offerings could encourage adoption and increase customer usage. Snowflake unveils innovations for the agentic enterprise
• Positive Sentiment: Recent commentary points to AI adoption, customer growth and raised revenue guidance as drivers of Snowflake’s strong year-to-date performance. Another bullish analysis argues that accelerating revenue growth may be underappreciated, though its optimistic price outlook depends on the valuation multiple investors assign the company. Zacks on Snowflake’s growth and valuation · Wall Street may be underestimating Snowflake’s growth potential
• Neutral Sentiment: Former Snowflake revenue chief Mike Gannon is joining AI infrastructure startup Spectro Cloud. The report concerns a former executive and does not describe a change to Snowflake’s operations or outlook. Former Snowflake revenue chief joins Spectro Cloud
• Negative Sentiment: Valuation remains a risk: coverage notes that Snowflake trades at a premium, leaving the stock sensitive to whether its AI-fueled growth can justify expectations. Executive Vice President Christian Kleinerman also sold 10,000 shares for about $3.06 million; the sale was under a pre-arranged trading plan, and he retained more than 303,000 shares. Snowflake executive stock sale

Insider Buying and Selling

In related news, Director Frank Slootman sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $316.43, for a total transaction of $94,929,000.00. Following the transaction, the director directly owned 19,024 shares of the company’s stock, valued at approximately $6,019,764.32. The trade was a 94.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $336.36, for a total value of $253,951.80. Following the completion of the transaction, the executive owned 211,619 shares of the company’s stock, valued at approximately $71,180,166.84. This represents a 0.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,135,702 shares of company stock valued at $373,733,800. Corporate insiders own 4.80% of the company’s stock.

Snowflake Stock Up 2.5%

NYSE:SNOW traded up $6.78 during mid-day trading on Friday, hitting $276.32. The company had a trading volume of 4,897,950 shares, compared to its average volume of 4,491,674. The business has a fifty day simple moving average of $327.95 and a 200-day simple moving average of $241.66. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The firm has a market capitalization of $97.48 billion, a price-to-earnings ratio of -86.89 and a beta of 1.32.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s revenue was up 35.1% compared to the same quarter last year. Equities analysts forecast that Snowflake Inc. will post -1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNOW. TD Cowen lifted their target price on Snowflake from $370.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Needham & Company LLC restated a “buy” rating and issued a $450.00 price objective on shares of Snowflake in a report on Monday, October 12th. Phillip Securities lowered Snowflake from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, October 12th. Evercore reissued an “outperform” rating and set a $430.00 target price on shares of Snowflake in a research report on Thursday, September 3rd. Finally, KeyCorp raised their price target on shares of Snowflake from $285.00 to $325.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Thirty-six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $413.87.

About Snowflake

Snowflake Inc provides a cloud-based data platform that helps organizations store, process, analyze and share data. Its platform brings together capabilities for data warehousing, data engineering, analytics, application development and artificial intelligence, and supports data sharing through its marketplace and other services.

Snowflake’s platform runs across major cloud providers, including Amazon Web Services, Microsoft Azure and Google Cloud. The company serves customers in multiple industries and geographies, offering tools to work with data across cloud environments.

Founded in 2012, Snowflake went public in 2020.