Snowflake (NYSE:SNOW) Shares Down 1.1% Following Insider Selling

Snowflake Inc. (NYSE:SNOW) shares dropped 1.1% on Thursday after an insider sold shares in the company. The company traded as low as $176.70 and last traded at $177.3870. Approximately 3,890,361 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 6,396,738 shares. The stock had previously closed at $179.43.

Specifically, EVP Christian Kleinerman sold 550 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $182.44, for a total value of $100,342.00. Following the transaction, the executive vice president directly owned 501,835 shares in the company, valued at approximately $91,554,777.40. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 2,042 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $182.44, for a total transaction of $372,542.48. Following the transaction, the director directly owned 47,558 shares of the company’s stock, valued at approximately $8,676,481.52. This represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $175.19, for a total value of $8,818,714.22. Following the sale, the director directly owned 30,236 shares of the company’s stock, valued at approximately $5,297,044.84. This trade represents a 62.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SNOW shares. Weiss Ratings restated a “sell (d-)” rating on shares of Snowflake in a research note on Wednesday, January 21st. JPMorgan Chase & Co. cut their price target on Snowflake from $268.00 to $245.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Robert W. Baird raised their price objective on shares of Snowflake from $260.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Oppenheimer reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, February 26th. Finally, Stifel Nicolaus set a $205.00 target price on shares of Snowflake 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 company. Based on data from MarketBeat, the stock 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 product revenues of $1.22B in Q4 and highlights an expanding AI portfolio; management forecasts ~27% YoY growth for Q1 FY27 — a clear revenue/trajectory beat that supports longer?term upside. Read More.
• Positive Sentiment: Snowflake research shows strong GenAI adoption (India flagged as a leader) and enterprise ROI cases — evidence that demand for Snowflake’s Data Cloud is accelerating across key markets. Read More.
• Positive Sentiment: Analyst coverage has been constructive this week (upgrades/positive notes) that provide short?term support to the stock’s trading tone. Read More.
• Neutral Sentiment: Independent takes profile Snowflake as a leader in enterprise AI/context for LLMs — good for positioning but these thought?leadership pieces are background, not immediate catalysts. Read More.
• Neutral Sentiment: Valuation debate: some analysts note strong growth but argue Snowflake’s premium multiple leaves upside more dependent on continued execution. This tempers the bull case. Read More.
• Negative Sentiment: Insider selling — recent Form 4s show sales by a director (Frank Slootman) and EVP Christian Kleinerman; markets often view clustered insider sales as short?term pressure or sentiment signal. Read More.
• Negative Sentiment: Multiple law firms have filed notices and class?action solicitations covering a June 2023–Feb 2024 class period; proliferation of filings raises legal risk and potential costs that can weigh on the stock. Read More.

Snowflake Price Performance

The stock has a market cap of $60.70 billion, a P/E ratio of -44.91 and a beta of 1.16. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07. The company’s fifty day simple moving average is $191.27 and its 200-day simple moving average is $221.60.

Snowflake (NYSE:SNOW) last released its quarterly earnings data 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 net margin of 28.43% and a negative return on equity of 48.50%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Snowflake by 1.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock worth $165,123,000 after buying an additional 8,002 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Snowflake by 13.5% in the 3rd quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock worth $92,047,000 after acquiring an additional 48,411 shares in the last quarter. Penserra Capital Management LLC grew its position in Snowflake by 32.8% during the 3rd quarter. Penserra Capital Management LLC now owns 153,358 shares of the company’s stock worth $34,586,000 after acquiring an additional 37,911 shares during the last quarter. Vanguard Group Inc. grew its position in Snowflake by 3.1% during 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. Finally, William Blair Investment Management LLC acquired a new stake in Snowflake during the 3rd quarter valued at $116,882,000. Institutional investors own 65.10% of the company’s stock.

About Snowflake

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.