Snowflake Inc. $SNOW Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Snowflake stake by 40.5% in the first quarter, leaving it with 310,501 shares worth about $47.5 million.
• Snowflake insiders have also been selling heavily: Director Frank Slootman and Director Mark Garrett both slashed their holdings, while insiders sold 1.8 million shares worth about $421.7 million over the past 90 days.
• Despite the selling, Wall Street sentiment remains bullish, with several firms raising price targets and Snowflake beating quarterly estimates on 33.5% revenue growth in its latest earnings report.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 40.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,501 shares of the company's stock after selling 211,565 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.09% of Snowflake worth $47,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. purchased a new stake in shares of Snowflake during the fourth quarter worth about $28,000. Greenline Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter worth $29,000. GoalVest Advisory LLC lifted 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 period. Physician Wealth Advisors Inc. grew its position in shares of Snowflake by 56.0% in the fourth quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company's stock valued at $31,000 after purchasing an additional 51 shares during the period. Finally, Emerald Advisers LLC increased its stake in Snowflake by 95.2% in the first quarter. Emerald Advisers LLC now owns 205 shares of the company's stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Insider Transactions at Snowflake

In related news, Director Mark Garrett sold 100,000 shares of Snowflake stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the transaction, the director directly owned 8,801 shares in the company, valued at approximately $2,200,250. This trade represents a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 437,076 shares of the stock in a transaction that occurred on 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 approximately $9,603,951.78. This represents a 91.99% 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. Over the last 90 days, insiders have sold 1,802,015 shares of company stock valued at $421,739,629. Insiders own 4.80% of the company's stock.

Trending Headlines about 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 Stock Down 0.4%

NYSE SNOW opened at $268.85 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a fifty-two week low of $118.30 and a fifty-two week high of $284.99. The business has a 50 day moving average price of $227.43 and a two-hundred day moving average price of $193.65. The stock has a market cap of $93.18 billion, a PE ratio of -76.38 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, beating 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 business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The business's quarterly revenue was up 33.5% compared to the same quarter last year. As a group, sell-side analysts predict that Snowflake Inc. will post -1.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNOW shares. Monness Crespi & Hardt raised their target price on shares of Snowflake from $282.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Canaccord Genuity Group upped their price objective on Snowflake from $240.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. DA Davidson increased their target price on Snowflake from $250.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. KeyCorp lifted their target price on Snowflake from $285.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Loop Capital boosted their price target on Snowflake from $290.00 to $320.00 and gave the company a "buy" rating in a research report on Wednesday, June 3rd. Thirty-four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.