Snowflake Inc. $SNOW Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its Snowflake stake by 10.5% in the first quarter, selling 10,517 shares and leaving it with 89,342 shares worth about $13.5 million.
• Insider selling was significant, including Director Frank Slootman’s sale of 200,000 shares and CRO Jonathan Mead Beaulier’s sale of 9,367 shares, though the transactions were tied to a 10b5-1 plan and tax withholding obligations.
• Despite the selling, analysts remain broadly bullish on Snowflake, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating; the company also recently beat earnings and revenue expectations.

Assenagon Asset Management S.A. lessened its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,342 shares of the company's stock after selling 10,517 shares during the period. Assenagon Asset Management S.A.'s holdings in Snowflake were worth $13,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Diligent Investors LLC lifted its position in Snowflake by 0.9% during the third quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock worth $1,036,000 after buying an additional 40 shares in the last quarter. Wolff Wiese Magana LLC increased its position in Snowflake by 10.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 549 shares of the company's stock worth $120,000 after buying an additional 50 shares during the period. HHM Wealth Advisors LLC increased its stake in Snowflake by 50.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 50 shares during the period. United Asset Strategies Inc. raised its stake in shares of Snowflake by 1.4% during the fourth quarter. United Asset Strategies Inc. now owns 3,544 shares of the company's stock worth $777,000 after purchasing an additional 50 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its position in 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 period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Analysts remain constructive on Snowflake, with several firms reiterating Buy/Overweight ratings and raising price targets, reinforcing confidence in its growth outlook and AI-related demand.
• Positive Sentiment: Investor interest is rising around Snowflake’s long-term AI opportunity and its scale in cloud data management, with recent coverage citing strong free cash flow and broad enterprise relevance. GitLab vs. Snowflake: Which Technology Stock Is a Better Buy in 2026?
• Positive Sentiment: Snowflake is attracting more attention from traders and retail investors, which can support momentum when combined with strong fundamentals.
• Neutral Sentiment: Recent articles questioning whether SNOW can rebound or reach higher levels are mostly sentiment-driven and do not indicate a new fundamental catalyst.
• Negative Sentiment: Multiple insider sales, including recent transactions by executives, may weigh on sentiment even though the trades were reportedly made under pre-arranged plans for tax withholding purposes.

Insider Buying and Selling

In related news, Director Frank Slootman sold 200,000 shares of Snowflake stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $224.27, for a total value of $44,854,000.00. Following the sale, the director owned 28,535 shares of the company's stock, valued at approximately $6,399,544.45. The trade was a 87.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Mead Beaulier sold 9,367 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $231.98, for a total transaction of $2,172,956.66. Following the completion of the transaction, the executive owned 234,791 shares in the company, valued at approximately $54,466,816.18. This trade represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 1,702,704 shares of company stock valued at $390,771,264. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNOW. Rosenblatt Securities lifted their price objective on Snowflake from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Barclays raised their target price on Snowflake from $272.00 to $285.00 and gave the company an "equal weight" rating in a research note on Thursday, June 4th. Evercore set a $200.00 target price on Snowflake in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Finally, Bank of America increased their price target on Snowflake from $205.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and an average target price of $293.53.

Snowflake Stock Performance

NYSE:SNOW opened at $248.29 on Friday. The firm's 50-day moving average is $191.99 and its 200-day moving average is $189.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $86.06 billion, a price-to-earnings ratio of -70.54 and a beta of 1.35. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99.

Snowflake (NYSE:SNOW - Get Free Report) last issued 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. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The firm's revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. Equities research analysts anticipate that Snowflake Inc. will post -1.87 earnings per share for the current year.

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.

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