Peregrine Capital Management LLC Has $44.53 Million Holdings in Snowflake Inc. $SNOW

Peregrine Capital Management LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 5.7% during the 1st quarter, HoldingsChannel reports. The fund owned 295,230 shares of the company’s stock after purchasing an additional 15,859 shares during the period. Snowflake accounts for approximately 1.7% of Peregrine Capital Management LLC’s portfolio, making the stock its 12th biggest holding. Peregrine Capital Management LLC’s holdings in Snowflake were worth $44,527,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. GraniteShares Advisors LLC lifted its position in shares of Snowflake by 7.3% in the first quarter. GraniteShares Advisors LLC now owns 4,865 shares of the company’s stock worth $734,000 after purchasing an additional 330 shares in the last quarter. AMI Asset Management Corp grew its position in Snowflake by 146.1% during the first quarter. AMI Asset Management Corp now owns 176,359 shares of the company’s stock valued at $26,598,000 after purchasing an additional 104,700 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Snowflake by 71.9% during the first quarter. SJS Investment Consulting Inc. now owns 287 shares of the company’s stock valued at $43,000 after purchasing an additional 120 shares in the last quarter. Inspire Investing LLC increased its stake in Snowflake by 43.0% in the 1st quarter. Inspire Investing LLC now owns 2,140 shares of the company’s stock valued at $323,000 after buying an additional 643 shares during the period. Finally, Brown Miller Wealth Management LLC increased its stake in Snowflake by 5.1% in the 1st quarter. Brown Miller Wealth Management LLC now owns 7,961 shares of the company’s stock valued at $1,201,000 after buying an additional 385 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Snowflake from $210.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Benchmark upped their price target on shares of Snowflake from $200.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Royal Bank Of Canada increased 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 boosted their target price on Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, UBS Group reaffirmed a “buy” rating on shares of Snowflake in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.53.

Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $148.21, for a total value of $7,460,594.98. Following the completion of the sale, the director directly owned 29,396 shares in the company, valued at approximately $4,356,781.16. The trade was a 63.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the sale, the director directly owned 8,801 shares of the company’s stock, valued at $2,200,250. The trade was a 91.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,698,928 shares of company stock valued at $390,204,011. Corporate insiders own 4.80% of the company’s stock.

Snowflake Trading Up 0.9%

Snowflake stock opened at $254.00 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $88.04 billion, a price-to-earnings ratio of -72.16 and a beta of 1.35. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99. The company’s fifty day moving average price is $196.32 and its two-hundred day moving average price is $189.40.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business’s revenue was up 33.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. On average, analysts forecast that Snowflake Inc. will post -1.87 earnings per share for the current fiscal year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analyst commentary highlighted accelerating AI monetization at Snowflake and reiterated a bullish view, with Wells Fargo recently lifting its price target to $320 and maintaining a Buy rating. Snowflake’s (SNOW) AI Business Is Growing Faster Than Many Expected As Analysts Revise Target Price Upward
• Positive Sentiment: Recent coverage also pointed to Snowflake as an AI stock with momentum, citing a strong earnings beat, raised guidance, and broader investor interest in buying the name on pullbacks. 5 Tech Stocks to Buy on the July Pullback (SNOW)
• Positive Sentiment: Several articles argued that institutional and analyst sentiment remains supportive, with Snowflake continuing to be framed as a leading AI/data infrastructure winner. Is It Worth Investing in Snowflake (SNOW) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Director Frank Slootman sold a small number of shares under a pre-arranged 10b5-1 plan, which is typically viewed as routine insider activity rather than a strong bearish signal. SEC Form 4 filing
• Neutral Sentiment: Other news items, including Snowflake-related customer and ecosystem mentions such as the World Tour and partner recognition, reinforce the company’s visibility but are unlikely to drive the stock by themselves. Snowflake World Tour | Sydney
• Negative Sentiment: Multiple Seeking Alpha pieces turned cautious, warning that Snowflake’s premium valuation may outweigh the opportunity and that AI enthusiasm could be overhyped. Snowflake: The Valuation Wipes Out Opportunity
• Negative Sentiment: Another downgrade argued that while AI monetization is improving, valuation risks could cap upside from here. Snowflake: Value Maxed Tokens Drive Accelerating AI Monetization – Valuation Risks Ahead (Rating Downgrade)

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.