Westfield Capital Management Co. LP Buys 74,150 Shares of Snowflake Inc. $SNOW

Westfield Capital Management Co. LP lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 649,105 shares of the company’s stock after purchasing an additional 74,150 shares during the quarter. Westfield Capital Management Co. LP owned 0.19% of Snowflake worth $142,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. increased its stake in Snowflake by 99.1% in the 4th quarter. Assetmark Inc. now owns 198,655 shares of the company’s stock worth $43,577,000 after acquiring an additional 98,870 shares during the last quarter. Jennison Associates LLC increased its stake in Snowflake by 27.7% in 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 during the last quarter. William Blair Investment Management LLC bought a new position in Snowflake in the 3rd quarter worth about $116,882,000. Swedbank AB increased its stake in Snowflake by 6.0% in the 4th quarter. Swedbank AB now owns 1,330,415 shares of the company’s stock worth $291,840,000 after acquiring an additional 75,419 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Snowflake by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock worth $6,461,465,000 after acquiring an additional 857,832 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.00, for a total value of $2,720,000.00. Following the completion of the sale, the executive vice president owned 418,494 shares in the company, valued at approximately $113,830,368. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 162,924 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $263.70, for a total value of $42,963,058.80. Following the completion of the sale, the director owned 38,046 shares of the company’s stock, valued at approximately $10,032,730.20. This trade represents a 81.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,538,672 shares of company stock worth $346,816,863. Corporate insiders own 4.80% of the company’s stock.

Snowflake Price Performance

SNOW opened at $244.47 on Friday. The stock’s 50 day simple moving average is $163.69 and its 200 day simple moving average is $190.21. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.30. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $284.99. The firm has a market cap of $84.51 billion, a price-to-earnings ratio of -69.45 and a beta of 1.35.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.24 EPS. Snowflake’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -2.15 earnings per share for the current year.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake’s Summit 26 showcased major AI product updates, including enhancements to Horizon Catalog, CoWork, CoCo, and Datastream, supporting the view that Snowflake is becoming a core enterprise AI platform.
• Positive Sentiment: Wall Street sentiment has improved meaningfully, with UBS, Needham, BTIG, Piper Sandler, and TD Cowen all raising targets or reiterating bullish ratings after the company’s strong earnings and AI momentum. UBS target raise on Snowflake
• Positive Sentiment: Analysts said Snowflake’s AI monetization opportunity is gaining traction, suggesting its new AI-native products are starting to drive real commercial demand. Jefferies commentary on Snowflake AI monetization
• Positive Sentiment: Customer and partner announcements, including TransUnion, Cognizant, Sanofi, and Thomson Reuters, point to broader adoption of Snowflake’s AI data cloud ecosystem. TransUnion expands on Snowflake AI Data Cloud
• Neutral Sentiment: Coverage and commentary comparing Snowflake with other software and AI stocks may help keep investor interest high, but it is not a direct near-term earnings driver.
• Negative Sentiment: Insider selling by Director Frank Slootman and EVP Christian Kleinerman could create some headline pressure, even though both trades were made under pre-arranged 10b5-1 plans. Frank Slootman sells Snowflake shares
• Negative Sentiment: SNOW also weakened alongside the broader software group as investors took profits across the sector, so part of the stock’s recent decline appears tied to industry-wide selling rather than company-specific fundamentals. Software sector profit-taking hits Snowflake

Analysts Set New Price Targets

A number of equities analysts have weighed in on SNOW shares. Weiss Ratings upgraded Snowflake from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. KeyCorp set a $295.00 target price on Snowflake in a research note on Thursday, May 28th. DA Davidson upped their target price on Snowflake from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Truist Financial restated a “buy” rating and issued a $275.00 target price (up from $240.00) on shares of Snowflake in a research note on Thursday, May 28th. Finally, Stifel Nicolaus increased their price objective on Snowflake from $205.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One investment 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 company. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $290.23.

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.