Insider Selling: Snowflake (NYSE:SNOW) Director Sells 100,000 Shares of Stock

Key Points

• Snowflake director Mark Garrett sold 100,000 shares on May 29 at an average price of $250, for proceeds of $25 million. After the sale, he held 8,801 shares, cutting his stake by about 91.9%.
• SNOW shares jumped 10% to $281.14 on Monday, near its 52-week high, with trading volume well above average. The move came after the company’s latest earnings beat expectations.
• Snowflake reported strong quarterly results, posting EPS of $0.39 versus the $0.32 consensus and revenue of $1.39 billion versus $1.32 billion expected. Revenue grew 33.5% year over year, and analysts have mostly turned bullish with a consensus price target of $284.38.

Snowflake Inc. (NYSE:SNOW - Get Free Report) Director Mark Garrett sold 100,000 shares of the company's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $250.00, for a total transaction of $25,000,000.00. Following the completion of the sale, the director owned 8,801 shares of the company's stock, valued at approximately $2,200,250. The trade was a 91.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snowflake Stock Up 10.0%

Shares of NYSE SNOW traded up $25.59 during trading on Monday, hitting $281.14. The stock had a trading volume of 20,140,709 shares, compared to its average volume of 9,986,376. Snowflake Inc. has a 12 month low of $118.30 and a 12 month high of $284.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $97.19 billion, a PE ratio of -79.87 and a beta of 1.35. The firm has a fifty day moving average of $158.80 and a two-hundred day moving average of $190.47.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.32 billion. Snowflake had a negative net margin of 23.79% and a negative return on equity of 49.29%. The firm's quarterly revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. As a group, equities research analysts forecast that Snowflake Inc. will post -2.2 EPS for the current fiscal year.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Norges Bank purchased a new stake in Snowflake in the fourth quarter worth $974,091,000. Jennison Associates LLC lifted its stake in Snowflake by 27.7% in the fourth quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock worth $2,545,300,000 after acquiring an additional 2,519,413 shares during the period. Coatue Management LLC purchased a new stake in Snowflake in the third quarter worth $441,277,000. Jericho Capital Asset Management L.P. purchased a new stake in Snowflake in the fourth quarter worth $345,619,000. Finally, American Century Companies Inc. lifted its stake in Snowflake by 233.3% in the third quarter. American Century Companies Inc. now owns 2,104,925 shares of the company's stock worth $474,766,000 after acquiring an additional 1,473,354 shares during the period. Hedge funds and other institutional investors own 65.10% of the company's stock.

Analyst Upgrades and Downgrades

SNOW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Snowflake from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Snowflake from $245.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday. Sanford C. Bernstein increased their price target on shares of Snowflake from $195.00 to $250.00 and gave the company a "market perform" rating in a research report on Thursday. Benchmark increased their price target on shares of Snowflake from $200.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company increased their price target on shares of Snowflake from $210.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $284.38.

Key Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake’s latest quarter was described as its best in years, with accelerating growth and improved profitability signaling that the business is re-accelerating after concerns about slowing demand. Snowflake's Best Quarter In Years: One Product Made It Happen
• Positive Sentiment: Analysts and media commentary highlighted Snowflake’s position in AI, with Jim Cramer saying the company understands the transition to AI and expects the post-earnings rally to continue. Jim Cramer Notes “Snowflake Understands the Transition to AI” Jim Cramer Expects Snowflake’s Post-Quarter Rally to “Roll On”
• Positive Sentiment: Snowflake announced new ecosystem activity, including Redpoint’s Identity Studio on the Snowflake Marketplace and Trust3 AI’s integration to govern MCP-based data access, reinforcing Snowflake’s role in enterprise AI infrastructure. Redpoint Launches Identity Studio on Snowflake Marketplace Trust3 AI Announces Integration with Snowflake to Govern MCP-Based Data Access and Accelerate Trusted Enterprise AI
• Positive Sentiment: Investor sentiment toward software stocks improved broadly as AI fears faded, which is helping lift Snowflake alongside peers. 5 Software Stocks That Could Keep Soaring as AI Disruption Fears Fade
• Neutral Sentiment: Snowflake also drew attention after reports of a large AWS infrastructure agreement and acquisition activity tied to AI governance, which may strengthen its long-term moat but is still being evaluated by investors. Snowflake signs $6bn infrastructure agreement with AWS Snowflake Buys Natoma To Govern The Agents Acting On Its Data
• Negative Sentiment: Some coverage cautioned that after the sharp rally, upside may be more limited from here, and a stock sale by former CEO Frank Slootman could be viewed as a mild overhang. Should You Buy Snowflake Stock After Its Recent Surge? The Answer Might Surprise You. Frank Slootman Sells 400,000 Shares of Snowflake NYSE: SNOW Stock

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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