Snowflake Inc. $SNOW is Altimeter Capital Management LP’s 4th Largest Position

Altimeter Capital Management LP cut its stake in Snowflake Inc. (NYSE:SNOW) by 14.1% in the third quarter, Holdings Channel reports. The fund owned 2,428,384 shares of the company’s stock after selling 397,246 shares during the period. Snowflake accounts for about 7.2% of Altimeter Capital Management LP’s portfolio, making the stock its 4th largest holding. Altimeter Capital Management LP’s holdings in Snowflake were worth $547,722,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Snowflake in the second quarter valued at about $944,895,000. Winslow Capital Management LLC acquired a new stake in Snowflake during the second quarter worth about $725,667,000. American Century Companies Inc. raised its stake in Snowflake by 233.3% during the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company’s stock worth $474,766,000 after purchasing an additional 1,473,354 shares during the period. Sei Investments Co. raised its stake in Snowflake by 272.4% during the second quarter. Sei Investments Co. now owns 1,593,329 shares of the company’s stock worth $356,543,000 after purchasing an additional 1,165,515 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Snowflake by 13.5% in the 3rd quarter. Jennison Associates LLC now owns 9,083,889 shares of the company’s stock valued at $2,048,871,000 after purchasing an additional 1,083,222 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $178.60 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $61.12 billion, a P/E ratio of -45.22 and a beta of 1.16. The firm’s 50 day moving average price is $189.67 and its 200-day moving average price is $221.37. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 net margin of 28.43% and a negative return on equity of 48.50%. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, equities research analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Snowflake in a research note on Monday, February 23rd. Truist Financial reduced their price target on shares of Snowflake from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Oppenheimer reiterated a “buy” rating on shares of Snowflake in a report on Thursday, February 26th. UBS Group lowered their price objective on Snowflake from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Barclays cut their target price on Snowflake from $204.00 to $192.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $248.58.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake reported robust product momentum: product revenues rose to $1.22B in Q4 and management is guiding Q1 FY27 revenue growth of ~27% YoY — a clear near?term revenue catalyst supporting upside expectations. Read More.
• Positive Sentiment: Analyst bullishness — Canaccord and other firms continue to show conviction (consensus target ~ $240 per the note), keeping a majority of covering analysts constructive and implying material upside versus current levels. Read More.
• Positive Sentiment: AI and market positioning — Multiple pieces (company research, Forbes/industry coverage, and a study highlighting India as an early GenAI adopter) reinforce Snowflake’s role as the “AI data cloud” provider, supporting longer?term TAM expansion and customer adoption. Read More.
• Neutral Sentiment: Market interest and background analysis — Zacks and other outlets note Snowflake is a trending stock and provide refreshers on financials and use cases; useful context for traders but not immediate catalysts. Read More.
• Neutral Sentiment: Valuation debate — Analysts and commentators (e.g., Seeking Alpha) acknowledge strong growth but flag that valuation is not cheap, suggesting upside depends on execution and margin improvement. Read More.
• Negative Sentiment: Litigation wave — Multiple law firms have filed or announced notices related to a securities class period and April 27 lead?plaintiff deadlines; proliferation of claims raises legal and financial overhang risk. Read More.
• Negative Sentiment: Insider/director selling — Recent Form 4 disclosures show sales by senior management and a director (including Frank Slootman and EVP Christian Kleinerman); media linked these trades to near?term selling pressure. Read More.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 200,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $206.77, for a total value of $41,354,000.00. Following the sale, the director owned 50,329 shares in the company, valued at approximately $10,406,527.33. The trade was a 79.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $219.90, for a total value of $2,199,000.00. Following the transaction, the executive vice president directly owned 471,351 shares in the company, valued at approximately $103,650,084.90. The trade was a 2.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 713,732 shares of company stock valued at $144,510,676. Corporate insiders own 6.80% of the company’s stock.

Snowflake Profile

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.