Snowflake (NYSE:SNOW) Director Michael Speiser Sells 50,338 Shares

by · The Markets Daily

Snowflake Inc. (NYSE:SNOW – Get Free Report) Director Michael Speiser sold 50,338 shares of Snowflake stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $148.21, for a total value of $7,460,594.98. Following the transaction, the director owned 29,396 shares of the company’s stock, valued at $4,356,781.16. This trade represents a 63.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Snowflake Stock Down 1.8%

Shares of Snowflake stock traded down $2.70 on Monday, hitting $149.15. The company had a trading volume of 5,664,351 shares, compared to its average volume of 5,981,025. Snowflake Inc. has a 1 year low of $120.10 and a 1 year high of $280.67. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a 50 day moving average of $173.75 and a 200-day moving average of $214.65. The stock has a market capitalization of $51.56 billion, a price-to-earnings ratio of -37.76 and a beta of 1.23.

Snowflake (NYSE:SNOW – Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Snowflake’s quarterly revenue was up 30.1% on a year-over-year basis. As a group, sell-side analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current year.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after acquiring an additional 29,320 shares during the period. Intech Investment Management LLC grew its position in shares of Snowflake by 24.0% during the 1st quarter. Intech Investment Management LLC now owns 11,202 shares of the company’s stock valued at $1,637,000 after acquiring an additional 2,167 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Snowflake by 29.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock valued at $47,000 after acquiring an additional 73 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Snowflake during the 2nd quarter worth approximately $206,000. Finally, SCS Capital Management LLC bought a new stake in shares of Snowflake in the 2nd quarter worth approximately $738,000. Institutional investors own 65.10% of the company’s stock.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

  • Positive Sentiment: Analyst and product momentum: Benchmark initiated coverage with a Buy and $190 target, highlighting Snowflake’s AI Data Cloud positioning; CEO Sridhar Ramaswamy discussed Project SnowWork and outcome‑driven AI agents as a product differentiator, supporting the growth case. Benchmark initiation and AI thesis CEO interview on Project SnowWork
  • Neutral Sentiment: Industry and coverage notes: Zacks and other outlets highlight expanding AI workloads and increased investor attention, which could support long‑term enterprise traction but have not yet translated into consistent share strength. Zacks on AI workload expansion Zacks attention/overview
  • Negative Sentiment: Legal overhang: Multiple law firms have filed or are soliciting lead‑plaintiff roles in securities class actions alleging Snowflake misled investors about product efficiency, usage/revenue impacts, and risk disclosures covering June 27, 2023–Feb 28, 2024; reminders and notices from Rosen, Schall, Levi & Korsinsky, DJS and others increase litigation visibility and potential expense/distraction. Levi & Korsinsky filing notice Schall Law Firm notice DJS Law Group notice Coverage on lawsuits and alleged disclosures

Analyst Upgrades and Downgrades

SNOW has been the subject of several analyst reports. The Goldman Sachs Group lowered their target price on shares of Snowflake from $286.00 to $246.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Wells Fargo & Company cut their price target on shares of Snowflake from $290.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. TD Cowen reduced their price objective on shares of Snowflake from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Scotiabank decreased their price objective on shares of Snowflake from $290.00 to $205.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 26th. Finally, Piper Sandler dropped their target price on shares of Snowflake from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.62.

Check Out Our Latest Research Report on SNOW

Snowflake Company Profile

(Get Free Report)

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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