Arthedge Capital Management LLC Lowers Stake in Snowflake Inc. $SNOW

Arthedge Capital Management LLC cut its position in Snowflake Inc. (NYSE:SNOW) by 14.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,900 shares of the company’s stock after selling 9,200 shares during the period. Snowflake makes up about 7.9% of Arthedge Capital Management LLC’s holdings, making the stock its 6th largest holding. Arthedge Capital Management LLC’s holdings in Snowflake were worth $12,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Snowflake in the fourth quarter valued at $974,091,000. Jennison Associates LLC grew its position in Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after buying an additional 2,519,413 shares in the last quarter. Coatue Management LLC purchased a new position in Snowflake during the third quarter worth about $441,277,000. American Century Companies Inc. boosted its holdings in shares of Snowflake by 233.3% in the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after purchasing an additional 1,473,354 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Snowflake by 5.1% in the 4th 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 in the last quarter. 65.10% of the stock is currently owned by institutional investors.

More Snowflake News

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNOW. Royal Bank Of Canada upped their price objective on Snowflake from $220.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Canaccord Genuity Group upped their price objective on Snowflake from $240.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. DA Davidson upped their price objective on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Piper Sandler upped their price objective on Snowflake from $295.00 to $320.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Finally, Barclays upped their price objective on Snowflake from $272.00 to $285.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $291.77.

Snowflake Trading Down 1.7%

NYSE SNOW opened at $234.24 on Thursday. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $284.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average of $178.86 and a 200-day moving average of $189.60. The firm has a market cap of $81.19 billion, a PE ratio of -66.55 and a beta of 1.35.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $0.24 EPS. Snowflake’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

Insider Buying and Selling

In other news, SVP Vivek Raghunathan sold 3,876 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total value of $930,240.00. Following the completion of the sale, the senior vice president owned 258,689 shares of the company’s stock, valued at approximately $62,085,360. The trade was a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, EVP Christian Kleinerman sold 2,986 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $240.00, for a total value of $716,640.00. Following the completion of the sale, the executive vice president directly owned 405,652 shares of the company’s stock, valued at approximately $97,356,480. This trade represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 1,493,618 shares of company stock worth $343,531,621 in the last 90 days. 4.80% of the stock is currently 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.