Snowflake Inc. (NYSE:SNOW) Short Interest Up 28.5% in April

Key Points

• Short interest jumped 28.5% in April to 18,009,657 shares (about 5.6% of shares outstanding) with a days-to-cover of 1.9, indicating increased bearish positioning in Snowflake.
• Snowflake beat quarterly estimates (EPS $0.32 vs. $0.27; revenue $1.28B, +30.1% YoY) but trades well below its 12‑month high and moving averages, while analysts hold a “Moderate Buy” consensus with an average target of $242.19.
• Insiders have been net sellers—394,313 shares worth $67.48M sold in the last 90 days (including Director Frank Slootman)—and the company faces ongoing securities class‑action litigation notices that could pressure sentiment.

Snowflake Inc. (NYSE:SNOW - Get Free Report) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 18,009,657 shares, a growth of 28.5% from the March 31st total of 14,017,762 shares. Based on an average trading volume of 9,711,596 shares, the days-to-cover ratio is currently 1.9 days. Currently, 5.6% of the shares of the company are sold short.

Snowflake Stock Performance

NYSE:SNOW traded down $1.41 during midday trading on Wednesday, reaching $141.15. 4,297,935 shares of the company traded hands, compared to its average volume of 6,513,152. Snowflake has a twelve month low of $118.30 and a twelve month high of $280.67. The firm has a market capitalization of $48.79 billion, a price-to-earnings ratio of -35.73 and a beta of 1.23. 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 fifty day moving average price of $159.67 and a 200 day moving average price of $203.95.

Snowflake (NYSE:SNOW - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Snowflake had a negative return on equity of 50.61% and a negative net margin of 28.43%.The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business's revenue for the quarter was up 30.1% compared to the same quarter last year. On average, analysts expect that Snowflake will post -2.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SNOW. Barclays lowered their price target on Snowflake from $204.00 to $192.00 and set an "equal weight" rating for the company in a report on Thursday, February 26th. DA Davidson reduced their price objective on Snowflake from $300.00 to $250.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Citigroup reduced their price objective on Snowflake from $300.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. The Goldman Sachs Group reduced their price objective on Snowflake from $286.00 to $246.00 and set a "buy" rating for the company in a research report on Wednesday, February 11th. Finally, Argus upgraded Snowflake from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and an average target price of $242.19.

Trending Headlines about Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: OpenAI GPT‑5.5 made available on Snowflake Cortex — the integration was cited as the catalyst for a recent intraday jump in SNOW shares, highlighting Snowflake’s position as a primary delivery channel for leading LLMs and reinforcing Cortex as a commercial AI distribution vector. Snowflake (SNOW) Stock Trades Up, Here Is Why
• Positive Sentiment: Appian partnership to add structure and control for AI agents — Appian’s adoption of the MCP protocol and tie‑up with Snowflake targets the enterprise AI agent market, which could broaden Cortex use cases and drive platform consumption. Appian adopts MCP protocol and partners with Snowflake
• Positive Sentiment: OneTrust embeds consent signals into Snowflake Data Clean Rooms — this integration addresses privacy/regulatory concerns and may increase enterprise willingness to run multi‑party analytics on Snowflake, supporting ARR durability. OneTrust Introduces a New Approach to Consent-Aware Data Clean Rooms
• Positive Sentiment: Channel and partner expansion — GrowthArc earned a Snowflake Cortex Code preferred partner badge and Trifecta Technologies launched Snowflake services, both of which expand implementation capacity and potential consumption. GrowthArc Earns Snowflake Cortex Code Preferred Partner Badge Trifecta Technologies Expands Data & AI Capabilities with Launch of Snowflake Services
• Positive Sentiment: Customer validation — Vanta lists Snowflake among enterprise customers as it surpasses $300M ARR, a signal of platform trust by security and compliance tooling vendors. Vanta Crosses $300M ARR as Growth Accelerates from AI
• Neutral Sentiment: Investor and media coverage — multiple roundup pieces and analyst writeups (Zacks, marketplace movers) explain why SNOW is trending and compare it with AI/cloud peers; useful context but not direct catalysts. CoreWeave vs Snowflake: Which AI Data Cloud Stock is the Smarter Buy? Here is What to Know Beyond Why Snowflake Inc. (SNOW) is a Trending Stock
• Neutral Sentiment: Tech/community interest — stories on lakehouse orchestration and analyst commentary highlight technical strengths and developer adoption but are incremental to near‑term earnings. How One Data Engineer Is Redefining Lakehouse Orchestration
• Negative Sentiment: Ongoing securities class‑action litigation notices — Faruqi & Faruqi and Rosen Law Firm have issued reminders about lead‑plaintiff deadlines for a suit covering mid‑2023 to Feb‑2024 purchases; legal overhang can pressure sentiment and increase potential litigation costs. Faruqi & Faruqi deadline alert Rosen Law Firm deadline reminder

Insiders Place Their Bets

In other news, Director Frank Slootman sold 11,299 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $175.25, for a total value of $1,980,149.75. Following the completion of the sale, the director directly owned 38,046 shares in the company, valued at approximately $6,667,561.50. The trade was a 22.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $148.21, for a total value of $59,728.63. Following the completion of the sale, the director owned 22,912 shares of the company's stock, valued at $3,395,787.52. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 394,313 shares of company stock worth $67,477,780. Corporate insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Total Clarity Wealth Management Inc. boosted its position in Snowflake by 2.7% during the 3rd 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 period. Diligent Investors LLC boosted its position in Snowflake by 0.9% during the 3rd quarter. Diligent Investors LLC now owns 4,594 shares of the company's stock worth $1,036,000 after acquiring an additional 40 shares during the period. Coastline Trust Co boosted its position in Snowflake by 1.0% during the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company's stock worth $943,000 after acquiring an additional 42 shares during the period. CX Institutional boosted its position in Snowflake by 13.2% during the 3rd quarter. CX Institutional now owns 421 shares of the company's stock worth $95,000 after acquiring an additional 49 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its position 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 acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

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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