Spyglass Capital Management LLC Sells 125,751 Shares of Snowflake Inc. $SNOW

Key Points

• Spyglass Capital cut its Snowflake stake by 25.1%, selling 125,751 shares and leaving 374,509 shares worth roughly $84.5M, making SNOW 4.5% of the fund's portfolio and its 10th-largest position.
• Snowflake reported Q4 revenue of $1.28B (up 30.1% YoY) and is guiding Q1 FY27 revenue growth of ~27% YoY, supporting analyst optimism and a consensus price target around $248.58.
• Insiders have sold heavily (713,732 shares, about $144.5M, over the last three months) and multiple securities class‑action notices create a potential legal overhang that could weigh on the stock.

Spyglass Capital Management LLC lowered its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 25.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 374,509 shares of the company's stock after selling 125,751 shares during the period. Snowflake comprises 4.5% of Spyglass Capital Management LLC's portfolio, making the stock its 10th largest position. Spyglass Capital Management LLC owned 0.11% of Snowflake worth $84,471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC raised its position in shares of Snowflake by 90.0% in the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Snowflake by 24.0% during the first quarter. Intech Investment Management LLC now owns 11,202 shares of the company's stock worth $1,637,000 after buying an additional 2,167 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after buying an additional 73 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Snowflake in the second quarter worth $639,000. Finally, Montag A & Associates Inc. raised its holdings in Snowflake by 234.5% in the second quarter. Montag A & Associates Inc. now owns 291 shares of the company's stock valued at $65,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

More Snowflake News

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.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 550 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $182.44, for a total value of $100,342.00. Following the sale, the executive vice president owned 501,835 shares of the company's stock, valued at $91,554,777.40. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 2,042 shares of the stock in a transaction dated 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 sale, the director directly owned 47,558 shares in the company, valued at approximately $8,676,481.52. This trade represents a 4.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 713,732 shares of company stock valued at $144,510,676 over the last three months. Company insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. KeyCorp dropped their target price on shares of Snowflake from $285.00 to $235.00 and set an "overweight" rating for the company in a research report on Thursday, February 19th. Rosenblatt Securities reiterated a "buy" rating and issued a $275.00 price target on shares of Snowflake in a research note on Thursday, February 26th. Evercore upped their price objective on Snowflake from $280.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, December 4th. BTIG Research reduced their target price on Snowflake from $312.00 to $235.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Finally, Wells Fargo & Company decreased their target price on Snowflake from $290.00 to $210.00 and set an "overweight" rating for the company 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 assigned a Sell rating to the company. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus price target of $248.58.

Snowflake Stock Performance

Shares of SNOW stock opened at $178.60 on Friday. 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 business has a 50 day moving average of $189.67 and a two-hundred day moving average of $221.18. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The company has a market cap of $61.12 billion, a P/E ratio of -45.22 and a beta of 1.16.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. Snowflake had a negative return on equity of 48.50% and a negative net margin of 28.43%.The business's quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. As a group, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current year.

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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