Snowflake Inc. $SNOW Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its stake in shares of Snowflake Inc. (NYSE:SNOW) by 55.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 325,466 shares of the company’s stock after selling 404,465 shares during the period. Fred Alger Management LLC’s holdings in Snowflake were worth $73,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Snowflake by 1.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 732,092 shares of the company’s stock worth $165,123,000 after purchasing an additional 8,002 shares during the last quarter. Federated Hermes Inc. boosted its position in Snowflake by 13.5% during the third quarter. Federated Hermes Inc. now owns 408,037 shares of the company’s stock worth $92,047,000 after purchasing an additional 48,411 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Snowflake by 32.8% in the third quarter. Penserra Capital Management LLC now owns 153,358 shares of the company’s stock valued at $34,586,000 after purchasing an additional 37,911 shares during the last quarter. Vanguard Group Inc. grew its holdings in Snowflake by 3.1% in the third quarter. Vanguard Group Inc. now owns 28,647,593 shares of the company’s stock valued at $6,461,465,000 after purchasing an additional 857,832 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Snowflake in the third quarter valued at $116,882,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael L. Speiser sold 50,338 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $221.16, for a total transaction of $11,132,752.08. Following the sale, the director owned 31,916 shares in the company, valued at approximately $7,058,542.56. This trade represents a 61.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $220.44, for a total transaction of $2,601,412.44. Following the completion of the sale, the senior vice president directly owned 218,020 shares of the company’s stock, valued at $48,060,328.80. The trade was a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 713,732 shares of company stock worth $144,510,676. Corporate insiders own 6.80% of the company’s stock.

Snowflake News Summary

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.

Snowflake Trading Up 0.8%

Snowflake stock opened at $178.60 on Monday. The stock has a 50-day moving average price of $189.67 and a 200 day moving average price of $221.52. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67. The stock has a market cap of $61.12 billion, a PE ratio of -45.22 and a beta of 1.17. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last released its earnings results 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 net margin of 28.43% and a negative return on equity of 48.50%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. Equities research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SNOW shares. DA Davidson cut their price target on Snowflake from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Sanford C. Bernstein dropped their target price on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating for the company in a report on Thursday, February 26th. Barclays cut their target price on shares of Snowflake from $204.00 to $192.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Robert W. Baird upped their price target on shares of Snowflake from $260.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Wells Fargo & Company lowered their price target on shares of Snowflake from $290.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $248.58.

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.