Handelsbanken Fonder AB Lowers Holdings in Snowflake Inc. $SNOW

Handelsbanken Fonder AB decreased its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 151,864 shares of the company’s stock after selling 13,795 shares during the quarter. Handelsbanken Fonder AB’s holdings in Snowflake were worth $38,649,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Snowflake by 5.1% in 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 in the last quarter. Jennison Associates LLC grew its holdings in Snowflake by 27.7% during the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company’s stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares in the last quarter. Nuveen LLC grew its holdings in Snowflake by 2.3% during the 4th quarter. Nuveen LLC now owns 5,277,851 shares of the company’s stock worth $1,157,749,000 after acquiring an additional 116,521 shares in the last quarter. Geode Capital Management LLC increased its position in Snowflake by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 4,809,689 shares of the company’s stock valued at $1,052,195,000 after purchasing an additional 249,668 shares during the period. Finally, Norges Bank purchased a new position in Snowflake during the 4th quarter valued at about $974,091,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $245.21, for a total transaction of $12,343,380.98. Following the transaction, the director directly owned 27,716 shares of the company’s stock, valued at approximately $6,796,240.36. This represents a 64.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Garrett sold 100,000 shares of the stock in a transaction 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 sale, the director owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,172,001 shares of company stock valued at $535,037,959. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SNOW shares. Scotiabank upped their price target on shares of Snowflake from $285.00 to $320.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 8th. Needham & Company LLC lifted their price objective on shares of Snowflake from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Citizens Jmp reissued a “market outperform” rating and set a $325.00 price objective on shares of Snowflake in a report on Tuesday, May 19th. UBS Group reissued a “buy” rating on shares of Snowflake in a research note on Monday, June 22nd. Finally, Wedbush upped their target price on Snowflake from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Thirty-four 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.00.

Snowflake Stock Performance

SNOW stock opened at $334.93 on Wednesday. Snowflake Inc. has a one year low of $118.30 and a one year high of $340.50. The firm has a market cap of $116.09 billion, a price-to-earnings ratio of -95.15 and a beta of 1.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50-day simple moving average of $264.72 and a two-hundred day simple moving average of $202.86.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Large AWS commitment supports growth prospects. Snowflake agreed to a multiyear, $6 billion commitment with Amazon Web Services, reinforcing expectations that enterprises will use Snowflake’s platform to develop and deploy AI applications. The deal, combined with strong interest in Snowflake’s AI tools ahead of its second-quarter results, has helped drive investor optimism. Snowflake Lands a $6 Billion AWS Deal
• Positive Sentiment: AI security and partner ecosystem are expanding. Snowflake launched Cortex AI Gateway to govern, secure, and coordinate first- and third-party AI agents. Integrations with Alteryx, Aembit, and 1Password further strengthen its AI Data Cloud and security ecosystem, potentially improving customer retention and broadening platform usage. Snowflake’s New AI Security Push
• Positive Sentiment: New integrations and customer adoption support enterprise demand. Alteryx One was added to Snowflake Marketplace, giving customers no-code tools for analytics, workflows, and automation using governed enterprise data. Snowflake also is powering Saudi Arabia’s Zahid Group’s data and AI transformation, offering evidence of continued international and enterprise adoption. Snowflake Added a No-Code AI Data App Snowflake Powers Zahid Group’s Data and AI Transformation
• Neutral Sentiment: Valuation is increasingly debated. Snowflake has delivered a substantial three-year return, and some discounted-cash-flow analysis indicates potential undervaluation. However, market-based valuation multiples and broader comparisons suggest the stock may already be expensive, particularly after its recent rally. Is Snowflake Stock a Bargain?
• Neutral Sentiment: An article about “Snowflake Volunteer” refers to an unrelated Tor Android application, not Snowflake Inc.; it should not affect SNOW shares. Snowflake Volunteer Tor Android App

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.