Chevy Chase Trust Holdings LLC Has $79.29 Million Stock Position in Snowflake Inc. $SNOW

Chevy Chase Trust Holdings LLC grew its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,555 shares of the company’s stock after purchasing an additional 16,989 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.10% of Snowflake worth $79,293,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Snowflake

In other Snowflake news, SVP Vivek Raghunathan sold 11,801 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $220.44, for a total value of $2,601,412.44. Following the sale, the senior vice president directly owned 218,020 shares in the company, valued at $48,060,328.80. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Slootman sold 200,000 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $206.77, for a total transaction of $41,354,000.00. Following the transaction, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 713,732 shares of company stock worth $144,510,676. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNOW shares. KeyCorp lowered their price objective on Snowflake from $285.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Morgan Stanley reduced their target price on Snowflake from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Evercore upped their target price on Snowflake from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Canaccord Genuity Group lowered their price target on Snowflake from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Barclays dropped their price target on shares of Snowflake from $204.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.58.

Key Stories Impacting Snowflake

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.

Snowflake Stock Performance

SNOW opened at $178.60 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $189.67 and its two-hundred day moving average price is $221.37. The firm has a market capitalization of $61.12 billion, a P/E ratio of -45.22 and a beta of 1.16. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

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.