1,575,580 Shares in Snowflake Inc. $SNOW Acquired by Jericho Capital Asset Management L.P.

Jericho Capital Asset Management L.P. bought a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, HoldingsChannel reports. The fund bought 1,575,580 shares of the company’s stock, valued at approximately $345,619,000. Snowflake accounts for 3.9% of Jericho Capital Asset Management L.P.’s portfolio, making the stock its 10th biggest position.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter valued at $974,091,000. Jennison Associates LLC raised its position in shares of Snowflake by 27.7% in the 4th 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 during the period. Coatue Management LLC acquired a new position in Snowflake in the third quarter valued at $441,277,000. American Century Companies Inc. grew its position in Snowflake by 233.3% during the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock valued at $474,766,000 after acquiring an additional 1,473,354 shares during the period. Finally, Vanguard Group Inc. grew its position in Snowflake by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company’s stock valued at $6,601,790,000 after acquiring an additional 1,448,094 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Wednesday, February 18th. Rosenblatt Securities increased their target price on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Mizuho lifted their price target on shares of Snowflake from $220.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. BTIG Research boosted their price objective on shares of Snowflake from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Cantor Fitzgerald increased their price objective on shares of Snowflake from $225.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.77.

Trending Headlines about Snowflake

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

Snowflake Stock Down 1.7%

NYSE SNOW opened at $234.24 on Thursday. 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 fifty-two week low of $118.30 and a fifty-two week high of $284.99. The business has a 50 day moving average price of $178.86 and a two-hundred day moving average price of $189.60. The stock has a market cap of $81.19 billion, a PE ratio of -66.55 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, sell-side analysts predict that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 3,876 shares of Snowflake stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $240.00, for a total transaction of $930,240.00. Following the sale, the senior vice president directly owned 258,689 shares in the company, valued at $62,085,360. The trade was a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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, Director Mark Garrett sold 100,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the transaction, the director owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,493,618 shares of company stock worth $343,531,621 over the last ninety days. Company insiders own 4.80% of the company’s stock.

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.