1,998 Snowflake Inc. $SNOW Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. lowered its stake in Snowflake Inc. (NYSE:SNOW) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,520 shares of the company’s stock after selling 1,998 shares during the quarter. Snowflake makes up approximately 1.3% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 20th largest position. Washington Trust Advisors Inc.’s holdings in Snowflake were worth $18,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. Yousif Capital Management LLC lifted its stake in Snowflake by 4.4% in the 3rd quarter. Yousif Capital Management LLC now owns 4,541 shares of the company’s stock valued at $1,542,000 after purchasing an additional 192 shares during the last quarter. BIP Wealth LLC acquired a new position in Snowflake in the 3rd quarter valued at $255,000. MBL Wealth LLC increased its position in Snowflake by 73.9% during the third quarter. MBL Wealth LLC now owns 1,586 shares of the company’s stock worth $539,000 after acquiring an additional 674 shares during the period. Brookstone Capital Management increased its holdings in shares of Snowflake by 151.2% during the third quarter. Brookstone Capital Management now owns 3,527 shares of the company’s stock worth $1,198,000 after purchasing an additional 2,123 shares during the period. Finally, E. Ohman J or Asset Management AB raised its holdings in Snowflake by 11.6% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 9,598 shares of the company’s stock valued at $3,259,000 after acquiring an additional 1,000 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Cloud software shares are rebounding, providing a favorable sector backdrop for Snowflake. Investors are focusing on demand for cloud infrastructure, data analytics and application security. Cloud Stocks Rebound
• Positive Sentiment: New partnerships with Adstra, Lumen Technologies and ATTOM are expanding use of Snowflake’s AI Data Cloud across marketing, networking, property data and secure AI workloads. Greater integration could increase customer usage and consumption-based revenue over time. Snowflake AI Partnerships
• Positive Sentiment: Recent commentary from analysts and investment managers highlights Snowflake’s AI momentum, accelerating product adoption and potential to benefit from a multiyear enterprise AI spending cycle. Some analysts view SNOW as a more attractive enterprise AI opportunity than Broadcom or Salesforce. Snowflake Versus Broadcom
• Neutral Sentiment: Comparisons with Salesforce frame Snowflake as the faster-growing, specialized data-cloud company, while Salesforce offers greater profitability and scale. The debate may attract investors but does not create an immediate change to Snowflake’s outlook. Salesforce Versus Snowflake
• Negative Sentiment: Coverage questioning whether Snowflake is fully valued points to recent share-price momentum and the risk that substantial AI expectations are already reflected in the stock. Investors may require evidence that partnerships translate into sustained revenue and earnings growth. Is Snowflake Fully Valued?
• Negative Sentiment: Director Frank Slootman sold 300,000 shares worth approximately $94.9 million, reducing his stake by 94%. The transaction was made under a pre-arranged Rule 10b5-1 plan, limiting its signaling value, but the size of the sale may weigh on sentiment. Slootman Insider Sale

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $341.57, for a total transaction of $5,123,550.00. Following the sale, the executive vice president directly owned 313,738 shares of the company’s stock, valued at $107,163,488.66. The trade was a 4.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $344.00, for a total transaction of $138,632.00. Following the sale, the director directly owned 21,767 shares in the company, valued at $7,487,848. The trade was a 1.82% 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 sold 1,246,429 shares of company stock worth $408,832,628 over the last quarter. Insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SNOW. Wells Fargo & Company upped their price target on shares of Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Stifel Nicolaus upped their price objective on shares of Snowflake from $350.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday, September 3rd. BTIG Research raised their target price on shares of Snowflake from $340.00 to $424.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, DA Davidson boosted their target price on shares of Snowflake from $300.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Thirty-six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $413.87.

Snowflake Trading Up 3.6%

Shares of SNOW stock traded up $11.30 during mid-day trading on Friday, reaching $325.26. 3,133,474 shares of the stock traded hands, compared to its average volume of 4,519,039. The stock’s fifty day simple moving average is $331.76 and its two-hundred day simple moving average is $260.74. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $384.56. The company has a market cap of $114.75 billion, a price-to-earnings ratio of -102.28 and a beta of 1.35. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.06.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative return on equity of 46.32% and a negative net margin of 20.07%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. On average, research analysts anticipate that Snowflake Inc. will post -1.44 EPS for the current fiscal year.

About Snowflake

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.