Shares of Snowflake (SNOW) are down about 32% year-to-date, underperforming the S&P 500’s (SPX) 18.8% gain. This decline reflects the enterprise’s reduced spending in the IT space. The trend might reverse if this AI data cloud company is able to deliver impressive fiscal second-quarter results. Looking ahead, Snowflake is expected to benefit from the AI boom and its expanding customer base. Consequently, it’s the right time to see who owns Snowflake.
Now, according to TipRanks’ ownership page, insiders own 49.89% of Snowflake. They are followed by public companies and individual investors, mutual funds, and other institutional investors at 23.35%, 16.57%, and 10.20%, respectively.
Digging Deeper into Snowflake’s Ownership Structure
Looking closely at institutions (Mutual Funds and Other Institutional Investors), Vanguard owns a 6.14% stake in SNOW stock. Next up is Vanguard Index Funds, which holds a 5.14% stake in the company.
Among the institutions, the Hedge Fund Confidence Signal is Very Negative on SNOW stock based on the activity of 22 hedge funds. Hedge funds decreased their SNOW holdings by 2.3M shares in the last quarter.
Unlike hedge funds, individual investors have a Very Positive view of the company. In the last 30 days, the number of portfolios (tracked by TipRanks) holding Snowflake stock increased by 6.1%. Overall, among the 746,050 portfolios monitored by TipRanks, 1.6% have invested in Snowflake stock.
Is SNOW a Good Stock to Buy Now?
Wall Street analysts are optimistic about SNOW stock. With 25 Buys and eight Hold recommendations, SNOW stock sports a Strong Buy consensus rating. These analysts’ average SNOW stock price target of $200.97 implies about 49% upside potential from current levels.
Conclusion
TipRanks’ Ownership tool provides SNOW ownership structure by category, enabling investors to make well-informed investing decisions.
