Cookson Peirce & Co. Inc. Purchases 42,705 Shares of Snowflake Inc. $SNOW

Cookson Peirce & Co. Inc. grew its position in shares of Snowflake Inc. (NYSE:SNOW) by 3,535.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 43,913 shares of the company’s stock after buying an additional 42,705 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Snowflake were worth $9,633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised its stake in shares of Snowflake by 99.1% during the fourth quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock valued at $43,577,000 after acquiring an additional 98,870 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Snowflake by 27.7% during the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock valued at $2,545,300,000 after acquiring an additional 2,519,413 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Snowflake during the third quarter valued at about $116,882,000. Swedbank AB raised its stake in Snowflake by 6.0% in the fourth quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock worth $291,840,000 after buying an additional 75,419 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Snowflake by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after buying an additional 857,832 shares during the period. 65.10% of the stock is owned by institutional investors.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 437,076 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the completion of the transaction, the director owned 38,046 shares of the company’s stock, valued at approximately $9,603,951.78. This trade represents a 91.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the transaction, the director directly owned 29,396 shares of the company’s stock, valued at $4,356,781.16. This represents a 63.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,538,672 shares of company stock valued at $346,816,863. Corporate insiders own 4.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $238.12 on Friday. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The company has a 50 day simple moving average of $165.25 and a two-hundred day simple moving average of $190.55. The company has a market capitalization of $82.32 billion, a price-to-earnings ratio of -67.65 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.05.

Snowflake (NYSE:SNOW) last announced 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 net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. Analysts expect that Snowflake Inc. will post -1.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Rosenblatt Securities lifted their price objective on Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Wednesday, February 18th. UBS Group set a $320.00 price objective on Snowflake in a research report on Wednesday. Monness Crespi & Hardt lifted their price objective on Snowflake from $282.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, DA Davidson lifted their price objective on Snowflake from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $290.87.

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.