Parallel Advisors LLC Has $1.27 Million Stock Holdings in Snowflake Inc. $SNOW

Parallel Advisors LLC decreased its position in Snowflake Inc. (NYSE:SNOW) by 48.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,621 shares of the company’s stock after selling 5,343 shares during the quarter. Parallel Advisors LLC’s holdings in Snowflake were worth $1,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares during the period. Intech Investment Management LLC raised its stake in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock worth $1,637,000 after buying an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in Snowflake during the 2nd quarter worth $529,000. Finally, Wedbush Securities Inc. raised its position in shares of Snowflake by 1.3% during the 2nd quarter. Wedbush Securities Inc. now owns 3,717 shares of the company’s stock valued at $832,000 after acquiring an additional 48 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 200,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $206.77, for a total value of $41,354,000.00. Following the completion of the transaction, the director owned 50,329 shares of the company’s stock, valued at approximately $10,406,527.33. This trade represents a 79.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $219.90, for a total transaction of $2,199,000.00. Following the sale, the executive vice president directly owned 471,351 shares in the company, valued at $103,650,084.90. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 711,140 shares of company stock worth $144,037,791. Company insiders own 6.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $175.24 on Wednesday. The company has a fifty day moving average price of $192.07 and a 200 day moving average price of $221.90. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The firm has a market cap of $59.97 billion, a PE ratio of -44.36 and a beta of 1.16. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The business’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. Research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, January 21st. TD Cowen decreased their price objective on shares of Snowflake from $270.00 to $255.00 and set a “buy” rating for the company in a report on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Needham & Company LLC reduced their price target on shares of Snowflake from $280.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Wells Fargo & Company lowered their price objective on shares of Snowflake from $290.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.58.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong AI adoption and research tailwinds — Snowflake published research showing broad AI investment and interoperability demand in healthcare, and separate surveys highlight AI?driven job gains and enterprise ROI from generative AI adoption, supporting the company’s growth narrative around Cortex, Snowflake Intelligence and large AI partnerships. Read More.
• Positive Sentiment: Bullish analyst/features arguing valuation opportunity — Several pieces (e.g., Seeking Alpha) recommend buying SNOW on sustained ~30% revenue growth, improving margins, strong bookings and accelerating AI product adoption — a counterpoint that can attract long?term investors. Read More.
• Neutral Sentiment: Mixed near?term performance and analyst mix — Coverage notes a ~19% three?month pullback driven by margin pressure and competition even as enterprise AI deals give growth upside; Street ratings remain skewed toward Buy but price targets vary materially. Read More.
• Negative Sentiment: Multiple securities class?action filings and law?firm notices — Several firms have announced lawsuits and investor deadlines alleging disclosure failures around product efficiency, pricing and revenue impacts (class period cited June 27, 2023–Feb 28, 2024). Litigation heightens uncertainty around potential settlements, legal costs and distracted management. Read More.
• Negative Sentiment: Large insider selling disclosed — Director Michael L. Speiser sold ~50,338 shares (~$8.8M) the week of March 6, materially reducing his holding; sizeable insider sales can be interpreted negatively by the market even if for personal reasons. Read More.

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.