Snowflake (NYSE:SNOW) Stock Price Down 2.9% on Insider Selling

Snowflake Inc. (NYSE:SNOW)’s stock price dropped 2.9% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $156.87 and last traded at $165.42. Approximately 7,868,632 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 6,671,720 shares. The stock had previously closed at $170.33.

Specifically, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $165.01, for a total value of $1,650,100.00. Following the transaction, the executive vice president directly owned 510,477 shares in the company, valued at approximately $84,233,809.77. This trade represents a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNOW. UBS Group reduced their price objective on Snowflake from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $275.00 price objective on shares of Snowflake in a research note on Thursday, February 26th. BTIG Research lowered their price objective on Snowflake from $312.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Morgan Stanley reduced their target price on shares of Snowflake from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of Snowflake from $290.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.58.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Q4 / FY2026 follow-through: investors are continuing to bid the stock after Snowflake’s late‑Feb earnings beat and management’s emphasis on AI platform growth and high‑profile model partnerships, which supports expectations for higher consumption and revenue expansion. Read More.
• Positive Sentiment: Analyst / Street optimism: several firms maintain buy/overweight views and raised/maintained targets citing Snowflake’s widening AI moat — Wall Street pieces flag potential upside that can support multiple expansion. Read More.
• Positive Sentiment: Broader coverage highlights AI upside: independent coverage (including Goldman Sachs‑focused pieces) emphasizes Snowflake’s AI positioning and partner integrations that can drive incremental product revenue. Read More.
• Neutral Sentiment: Insider selling: EVP Christian Kleinerman sold 10,000 shares (Form 4 disclosure). The sale is small relative to his remaining holdings but may be interpreted variably by investors. Read More.
• Neutral Sentiment: Investor events / presentations: recent conference appearances (Morgan Stanley TMT transcript) offer more detail on strategy and addressability but are informational rather than immediate catalysts. Read More.
• Negative Sentiment: Multiple securities class-action filings: several firms have filed or issued notice letters alleging misleading disclosures tied to Snowflake’s product/pricing statements for a June 27, 2023–Feb 28, 2024 class period — this raises potential legal costs, settlement risk and management distraction. Read More.
• Negative Sentiment: Amplified headline risk from many law firms: multiple firms (Portnoy, Faruqi, Bernstein Liebhard, Rosen, Schall, DJS, etc.) are soliciting lead plaintiffs and reminding investors of April deadlines — the volume of notices can increase short‑term selling pressure even if claims are ultimately resolved. Read More.

Snowflake Trading Up 5.5%

The stock’s 50 day moving average is $195.57 and its 200-day moving average is $222.18. 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 company has a market cap of $60.73 billion, a PE ratio of -44.93 and a beta of 1.16.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. Snowflake’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Norges Bank acquired a new position in shares of Snowflake during the fourth quarter valued at about $974,091,000. Winslow Capital Management LLC purchased a new stake in shares of Snowflake in the 2nd quarter valued at $725,667,000. Jennison Associates LLC increased its stake in shares of Snowflake by 27.7% in the fourth 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 period. Coatue Management LLC acquired a new position in Snowflake during the third quarter valued at $441,277,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Snowflake during the 4th quarter worth about $345,619,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Company 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.