Assetmark Inc. Cuts Stake in Snowflake Inc. $SNOW

Key Points

• Assetmark Inc. reduced its Snowflake stake by 7.0% in the first quarter, selling 13,851 shares and leaving it with 184,804 shares valued at about $27.9 million.
• Insider selling has been significant, with director Frank Slootman and others selling large blocks of stock; over the last 90 days, insiders sold 1.8 million shares worth about $421.7 million.
• Analysts remain broadly bullish on Snowflake, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average target of $296.

Assetmark Inc. lowered its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,804 shares of the company's stock after selling 13,851 shares during the quarter. Assetmark Inc. owned approximately 0.05% of Snowflake worth $27,872,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new position in Snowflake in the fourth quarter valued at about $28,000. Greenline Wealth Management LLC purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $29,000. GoalVest Advisory LLC increased its stake in shares of Snowflake by 221.4% during the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company's stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Finally, MV Capital Management Inc. bought a new stake in shares of Snowflake in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 437,076 shares of the company's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total value of $110,331,094.68. Following the transaction, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. This represents a 91.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael L. Speiser sold 50,338 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $141.60, for a total value of $7,127,860.80. Following the completion of the sale, the director directly owned 28,556 shares in the company, valued at approximately $4,043,529.60. The trade was a 63.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,802,015 shares of company stock worth $421,739,629 over the last ninety days. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNOW. KeyCorp upped their price objective on Snowflake from $285.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday. Canaccord Genuity Group boosted their target price on Snowflake from $240.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Wedbush boosted their target price on Snowflake from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Rosenblatt Securities upped their price target on Snowflake from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Truist Financial increased their price target on Snowflake from $275.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Thirty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $296.00.

Snowflake Stock Down 0.4%

Shares of NYSE:SNOW opened at $268.85 on Friday. The firm has a fifty day moving average price of $227.43 and a two-hundred day moving average price of $193.65. The company has a market cap of $93.18 billion, a price-to-earnings ratio of -76.38 and a beta of 1.35. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.05 and a quick ratio of 1.05. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business's quarterly revenue was up 33.5% on a year-over-year basis. Analysts anticipate that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on Snowflake to $313 from $284 and reiterated an outperform rating, signaling confidence in further upside. Article
• Positive Sentiment: KeyCorp lifted its target to $325 from $285 and kept an overweight rating, adding to the bullish analyst sentiment around SNOW. Article
• Positive Sentiment: RBC said CEO Sridhar Ramaswamy’s performance-based stock award is another positive sign for Snowflake’s AI growth strategy, suggesting management incentives are aligned with long-term value creation. Article
• Positive Sentiment: Media coverage highlighted Snowflake as one of the “hypergrowth” or “surprise” stocks to watch for 2026, reinforcing investor interest in the company’s AI and cloud growth narrative. Article
• Neutral Sentiment: Snowflake also unveiled a large CEO pay plan tied to ambitious long-term stock-price goals, which may be viewed as a commitment to growth but could draw scrutiny over compensation levels. Article
• Neutral Sentiment: Snowflake’s recent article coverage also noted continued product progress, including secure AI workflows for financial-data customers through Rogo, supporting the company’s broader AI adoption story. Article

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.

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