Fred Alger Management LLC Reduces Position in Snowflake Inc. $SNOW

Key Points

• Fred Alger cut its stake in Snowflake by 55.4% in Q3, selling 404,465 shares and leaving the firm with 325,466 shares valued at about $73.4 million.
• Heavy insider selling has occurred recently—insiders sold 713,732 shares worth $144.5 million over the last 90 days (insiders now own 6.8% of the company), a potential near‑term selling pressure signal.
• Mixed fundamentals and outlook: Snowflake reported Q4 revenue of $1.28 billion (+30.1% YoY) and product revenues of $1.22 billion with management guiding ~27% revenue growth for Q1 FY27, but the company still has a negative net margin (-28.43%) and a consensus analyst rating of "Moderate Buy" with a ~$248.58 target.

Fred Alger Management LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 55.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,466 shares of the company's stock after selling 404,465 shares during the period. Fred Alger Management LLC owned 0.10% of Snowflake worth $73,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. grew its position in shares of Snowflake by 2.7% during the third quarter. Total Clarity Wealth Management Inc. now owns 1,508 shares of the company's stock worth $340,000 after acquiring an additional 40 shares during the last quarter. Diligent Investors LLC increased its holdings in shares of Snowflake by 0.9% in the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock valued at $1,036,000 after acquiring an additional 40 shares during the period. Coastline Trust Co raised its position in Snowflake by 1.0% in the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company's stock valued at $943,000 after purchasing an additional 42 shares during the last quarter. CX Institutional raised its position in Snowflake by 13.2% in the 3rd quarter. CX Institutional now owns 421 shares of the company's stock valued at $95,000 after purchasing an additional 49 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Snowflake by 44.1% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company's stock worth $36,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Key Stories Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake reported robust product momentum: product revenues rose to $1.22B in Q4 and management is guiding Q1 FY27 revenue growth of ~27% YoY — a clear near‑term revenue catalyst supporting upside expectations. Read More.
• Positive Sentiment: Analyst bullishness — Canaccord and other firms continue to show conviction (consensus target ~ $240 per the note), keeping a majority of covering analysts constructive and implying material upside versus current levels. Read More.
• Positive Sentiment: AI and market positioning — Multiple pieces (company research, Forbes/industry coverage, and a study highlighting India as an early GenAI adopter) reinforce Snowflake’s role as the "AI data cloud" provider, supporting longer‑term TAM expansion and customer adoption. Read More.
• Neutral Sentiment: Market interest and background analysis — Zacks and other outlets note Snowflake is a trending stock and provide refreshers on financials and use cases; useful context for traders but not immediate catalysts. Read More.
• Neutral Sentiment: Valuation debate — Analysts and commentators (e.g., Seeking Alpha) acknowledge strong growth but flag that valuation is not cheap, suggesting upside depends on execution and margin improvement. Read More.
• Negative Sentiment: Litigation wave — Multiple law firms have filed or announced notices related to a securities class period and April 27 lead‑plaintiff deadlines; proliferation of claims raises legal and financial overhang risk. Read More.
• Negative Sentiment: Insider/director selling — Recent Form 4 disclosures show sales by senior management and a director (including Frank Slootman and EVP Christian Kleinerman); media linked these trades to near‑term selling pressure. Read More.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America raised their price objective on shares of Snowflake from $280.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, November 17th. The Goldman Sachs Group decreased their target price on shares of Snowflake from $286.00 to $246.00 and set a "buy" rating for the company in a research note on Wednesday, February 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $250.00 price target on shares of Snowflake in a report on Monday, February 23rd. Truist Financial dropped their price target on Snowflake from $270.00 to $240.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Finally, Stifel Nicolaus set a $205.00 price target on Snowflake in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $248.58.

Snowflake Stock Up 0.8%

SNOW stock opened at $178.60 on Monday. Snowflake Inc. has a one year low of $120.10 and a one year high of $280.67. The stock has a market capitalization of $61.12 billion, a PE ratio of -45.22 and a beta of 1.17. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.37. The company has a fifty day moving average of $189.67 and a 200-day moving average of $221.52.

Snowflake (NYSE:SNOW - Get Free Report) last issued its 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 net margin of 28.43% and a negative return on equity of 48.50%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The business's quarterly revenue was up 30.1% compared to the same quarter last year. As a group, analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 2,042 shares of the stock in a transaction that occurred 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 completion of 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. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 550 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 501,835 shares of the company's stock, valued at $91,554,777.40. This represents a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 713,732 shares of company stock worth $144,510,676 over the last 90 days. Company insiders own 6.80% of the company's stock.

Snowflake 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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