SBI Securities 13F: Cuts Snowflake (SNOW) Stake by $1.4M

SBI Securities reduced its holdings in Snowflake Inc. SNOW by 4,130 shares during the quarter, according to a Form 13F filing submitted to the SEC on October 22, 2026. The filing shows the firm's position dropped by 33.7% to 8,138 shares.

SNOW Snowflake Inc.

$322.73 ▲ +48.92% year to date

1M 3M YTD

Daily close · Oct 21, 2026

Inside SBI Securities's Snowflake Trade

The reduction brought the end-of-period value of the firm's Snowflake stake to $2,763,339. In the prior period, the firm held 12,268 shares. Institutional reports like this one reflect portfolio adjustments made over the course of the quarter rather than single trades on the filing date itself.

Other Institutional Activity in Snowflake

Other large institutional investors have also adjusted their positions in the cloud software provider. Jennison Associates LLC reduced its holdings by 823,901 shares, ending with 6,340,455 shares worth about $1,990,649,197 in its report covering the period ending June 30, 2026, which marked an 11.5% decrease.

Snowflake Inc. Stock Down 1.8%

Snowflake shares recently traded around $313.95 as of October 23, 2026, roughly equal to the closing price of $313.96 on the day of the filing. The stock sits about 5.5% below its 50-day moving average of $332.27 and roughly 33.4% above its 200-day moving average of $235.43. Over the past year, the shares have traded as low as $118.30 and as high as $384.56. The company carries a market capitalization of roughly $113.86 billion and a beta of 1.35.

Recent Earnings

For its trailing twelve months, Snowflake reported $5.43 billion in revenue alongside a net profit margin of -20.1% and a return on equity of -48.1%. The company recorded trailing twelve month earnings of -$3.18 per share. The next earnings report is scheduled for December 2, 2026.

Insider Buying and Selling at Snowflake Inc.

Company insiders have actively transacted in the stock over recent months. On September 23, 2026, Director Benoit Dageville sold 50,000 shares at an average price of $339.08 for a total value of $16,954,000. On the same day, Officer Jonathan Mead Beaulier sold 755 shares at $336.36 worth $253,953. Later, on October 7, 2026, Benoit Dageville sold another 50,000 shares at $333.42 totaling $16,671,000. Additionally, Director Frank Slootman sold 300,000 shares on October 19, 2026, valued at $94,930,176.

Analysts Set New Price Targets

Wall Street research firms have updated their outlooks on the software provider ahead of the upcoming winter earnings release. On September 3, 2026, JP Morgan maintained its Overweight rating and raised its price target to $426.00 from $285.00. The next day, Macquarie maintained a Neutral rating while lifting its target from $200.00 to $350.00. Goldman Sachs maintained a Buy rating on September 4, 2026, adjusting its target to $436.00 from $300.00. Argus Research also maintained a Buy rating on September 4, 2026, raising its target to $450.00 from $300.00. Finally, Needham reiterated a Buy rating on October 12, 2026, holding its price target steady at $450.00. Consensus analyst opinion currently leans toward a strong buy, with a mean price target of $425.14 across 48 analyst opinions.

About Snowflake

Headquartered in Menlo Park, California, Snowflake Inc. operates a cloud-based data platform that helps organizations consolidate data, build data applications, and apply artificial intelligence to business challenges. The platform serves as a single source of truth for enterprise data management across international markets.

Bottom Line

Investors tracking Snowflake will look toward the company's upcoming earnings report on December 2, 2026, for further updates on revenue growth and profitability margins. Additional institutional filings will clarify whether other large managers continue to pare back or expand their stakes.