HB Wealth Management LLC Has $1.34 Million Position in Snowflake Inc. $SNOW

HB Wealth Management LLC grew its position in Snowflake Inc. (NYSE:SNOW) by 30.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,907 shares of the company’s stock after acquiring an additional 2,077 shares during the period. HB Wealth Management LLC’s holdings in Snowflake were worth $1,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Snowflake by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock worth $6,601,790,000 after purchasing an additional 1,448,094 shares during the period. Jennison Associates LLC lifted its position in shares of Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after buying an additional 2,519,413 shares during the last quarter. Nuveen LLC boosted its stake in shares of Snowflake by 2.3% during the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after acquiring an additional 116,521 shares during the period. Geode Capital Management LLC boosted its stake in shares of Snowflake by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock worth $1,052,195,000 after acquiring an additional 249,668 shares during the period. Finally, Norges Bank acquired a new position in shares of Snowflake during the 4th quarter worth approximately $974,091,000. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

Shares of Snowflake stock opened at $262.62 on Wednesday. The company has a 50-day simple moving average of $207.53 and a two-hundred day simple moving average of $190.90. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99. The stock has a market capitalization of $91.02 billion, a price-to-earnings ratio of -74.61 and a beta of 1.35. 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 (NYSE:SNOW) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts forecast that Snowflake Inc. will post -1.84 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Teresa Briggs sold 343 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $255.11, for a total transaction of $87,502.73. Following the transaction, the director owned 5,060 shares in the company, valued at $1,290,856.60. This trade represents a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christian Kleinerman sold 2,500 shares of Snowflake stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $258.56, for a total value of $646,400.00. Following the completion of the transaction, the executive vice president directly owned 397,879 shares of the company’s stock, valued at $102,875,594.24. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,751,274 shares of company stock valued at $408,653,013 over the last ninety days. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SNOW shares. Oppenheimer raised their price target on Snowflake from $250.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. Morgan Stanley raised their target price on shares of Snowflake from $245.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Snowflake from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Stifel Nicolaus increased their price target on shares of Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Barclays raised their price objective on shares of Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $293.53.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analysts and market commentary say Snowflake’s AI Data Cloud is gaining traction, with accelerating adoption, new AI products, customer wins, and partnerships supporting the company’s goal of about 30% revenue growth. Snowflake’s AI Data Cloud Gains Traction: More Upside Ahead?
• Positive Sentiment: Snowflake is also benefiting from continued investor attention around its AI positioning and “trending stock” status, which can help keep momentum strong if the company continues to show execution. Snowflake Inc. (SNOW) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Another upbeat note highlights Snowflake’s expanding role in enterprise AI readiness, with enterprises increasingly using its platform for secure data access, collaboration, and AI-enabled operations. Snowflake Expands Role in Enterprise AI Readiness
• Positive Sentiment: Recent commentary says Snowflake’s backlog and broader data-opportunity narrative are starting to show results, reinforcing the long-term growth case for investors. Snowflake’s $80 Billion Data Bet Is Starting to Show Results

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.