Saudi Central Bank Acquires 11,109 Shares of Snowflake Inc. $SNOW

Saudi Central Bank increased its stake in Snowflake Inc. (NYSE:SNOW) by 93.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 22,989 shares of the company’s stock after buying an additional 11,109 shares during the quarter. Saudi Central Bank’s holdings in Snowflake were worth $5,851,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after buying an additional 29,320 shares during the period. Intech Investment Management LLC grew its stake in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after acquiring an additional 2,167 shares during the period. Geneos Wealth Management Inc. increased its holdings in Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after acquiring an additional 73 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in Snowflake in the 2nd quarter worth about $221,000. Finally, The Manufacturers Life Insurance Company raised its stake in Snowflake by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock valued at $5,055,000 after acquiring an additional 1,521 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

Insiders Place Their Bets

In other news, Director Michael Speiser sold 50,338 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $324.06, for a total value of $16,312,532.28. Following the transaction, the director owned 26,036 shares of the company’s stock, valued at $8,437,226.16. This represents a 65.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 289,685 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $274.39, for a total transaction of $79,486,667.15. Following the sale, the director owned 28,535 shares in the company, valued at approximately $7,829,718.65. This trade represents a 91.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,131,160 shares of company stock valued at $317,966,701 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

Snowflake Trading Up 0.4%

Shares of SNOW opened at $338.47 on Monday. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $384.56. The stock has a market cap of $117.31 billion, a PE ratio of -106.44 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. The business’s 50-day moving average price is $297.66 and its 200-day moving average price is $220.60.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. On average, equities analysts forecast that Snowflake Inc. will post -1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on SNOW shares. Sanford C. Bernstein upped their price objective on shares of Snowflake from $195.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, May 28th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday. Truist Financial set a $425.00 price target on shares of Snowflake and gave the company a “buy” rating in a research report on Thursday. Bank of America upped their price target on shares of Snowflake from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, DA Davidson raised their price objective on shares of Snowflake from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday. Thirty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $414.24.

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.