Snowflake (NYSE:SNOW) Trading Down 2.2% – Here’s What Happened

Shares of Snowflake Inc. (NYSE:SNOW) dropped 2.2% during mid-day trading on Tuesday . The company traded as low as $145.01 and last traded at $150.2420. Approximately 8,291,480 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 6,018,655 shares. The stock had previously closed at $153.67.

Snowflake News Summary

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Morningstar expanded the availability of its investment datasets on Snowflake Marketplace, increasing Snowflake’s content ecosystem and potential marketplace revenue/usage tailwinds. Morningstar Expands Investment Data on Snowflake
• Positive Sentiment: Snowflake promoted long-time executive Jonathan Beaulier to Chief Revenue Officer effective March 31 — an internal hire that reduces execution risk versus an external search and signals continuity in go-to-market strategy. Snowflake Appoints Jonathan Beaulier as CRO
• Positive Sentiment: Snowflake named Michel Nader to lead its META region to advance regional AI initiatives, supporting international expansion and AI-driven adoption in a high-growth geography. Snowflake Appoints Michel Nader to Lead META Region
• Positive Sentiment: Analyst/market commentary highlights Snowflake’s Cortex AI suite as a potential re-acceleration driver (consumption-led, higher?margin AI workloads). This supports a constructive long-term growth narrative despite near-term headwinds. MarketBeat: Can Cortex Power Snowflake?
• Neutral Sentiment: Coverage pieces note Wall Street analyst views remain an important driver; media on analyst sentiment can move the stock but no widespread broker downgrades were cited in these items. Zacks: Analyst Perspectives on SNOW
• Negative Sentiment: Multiple law firms have filed or are soliciting class action lead-plaintiff candidates alleging securities fraud for purchases between June 27, 2023 and Feb 28, 2024; the April 27, 2026 lead-plaintiff deadline is being highlighted broadly—this legal overhang increases uncertainty and potential litigation costs. Bronstein: Class Action Filed Against SNOW
• Negative Sentiment: Investors reacted to a surprise leadership shift: CRO Mike Gannon is departing for personal reasons after a year in the role—news that prompted near-term selling while markets reassess revenue execution risk. MarketWatch: Surprise Leadership Shift

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNOW. Macquarie Infrastructure upped their price target on Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Sanford C. Bernstein reduced their target price on shares of Snowflake from $237.00 to $195.00 and set a “market perform” rating on the stock in a research report on Thursday, February 26th. Mizuho decreased their target price on shares of Snowflake from $285.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Snowflake in a report on Wednesday, January 21st. Finally, KeyCorp dropped their price target on shares of Snowflake from $285.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Two equities research analysts have 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.58.

Snowflake Stock Performance

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 company has a market capitalization of $51.94 billion, a PE ratio of -38.04 and a beta of 1.17. The company has a 50 day moving average price of $178.27 and a 200 day moving average price of $216.58.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. Snowflake had a negative net margin of 28.43% and a negative return on equity of 50.61%. The business’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other news, Director Frank Slootman sold 11,299 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $175.25, for a total value of $1,980,149.75. Following the sale, the director owned 38,046 shares in the company, valued at approximately $6,667,561.50. This represents a 22.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $175.19, for a total transaction of $70,601.57. Following the transaction, the director directly owned 23,315 shares in the company, valued at $4,084,554.85. The trade was a 1.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 612,238 shares of company stock worth $116,741,495 over the last quarter. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNOW. Grey Fox Wealth Advisors LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at approximately $25,000. Tripletail Wealth Management LLC bought a new position in Snowflake during the third quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new position in Snowflake in the fourth quarter worth $28,000. Greenline Wealth Management LLC bought a new stake in Snowflake during the fourth quarter valued at $29,000. Finally, SJS Investment Consulting Inc. increased its stake in Snowflake by 4,333.3% during the third quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 65.10% of the company’s 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.