Mark Garrett Sells 100,000 Shares of Snowflake (NYSE:SNOW) Stock

Snowflake Inc. (NYSE:SNOW) Director Mark Garrett sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $250.00, for a total value of $25,000,000.00. Following the sale, the director directly owned 8,801 shares of the company’s stock, valued at approximately $2,200,250. This represents a 91.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snowflake Stock Down 6.7%

Snowflake stock opened at $261.29 on Wednesday. The stock has a 50 day moving average of $158.80 and a two-hundred day moving average of $190.47. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99. The stock has a market capitalization of $90.33 billion, a price-to-earnings ratio of -74.23 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 1.30 and a debt-to-equity ratio of 1.18.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts expect that Snowflake Inc. will post -2.15 earnings per share for the current year.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Snowflake by 90.0% during the 4th quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock worth $9,556,000 after purchasing an additional 29,320 shares during the last quarter. Intech Investment Management LLC grew its holdings in 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 buying an additional 2,167 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Snowflake by 29.7% during the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after buying an additional 73 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in Snowflake during the second quarter worth $221,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Snowflake by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 22,603 shares of the company’s stock worth $5,055,000 after acquiring an additional 1,521 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Snowflake from $210.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Piper Sandler set a $300.00 price target on shares of Snowflake in a research note on Thursday, May 28th. KeyCorp set a $295.00 price target on shares of Snowflake in a report on Thursday, May 28th. Rosenblatt Securities raised their price objective on shares of Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, UBS Group lifted their price objective on Snowflake from $210.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned 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 target price of $284.38.

More Snowflake News

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Snowflake unveiled new AI and governance capabilities across Horizon Catalog, CoWork, and CoCo, reinforcing its position as a core enterprise AI platform and improving its long-term growth story.
• Positive Sentiment: Major enterprise adopters and partners, including Thomson Reuters and Sanofi, highlighted real-world use cases for Snowflake-powered AI, which supports demand visibility and validates the platform’s appeal to large customers.
• Positive Sentiment: Snowflake’s ecosystem momentum is building, with partners such as Anthropic, Redpoint, Trust3 AI, and numerous Snowflake Partner of the Year award winners showcasing expanding adoption around the Snowflake AI Data Cloud.
• Positive Sentiment: Recent analyst and media coverage has been constructive, with commentary suggesting Snowflake’s earnings beat and reaccelerating growth could support further upside after the post-earnings surge.
• Neutral Sentiment: Snowflake also drew attention for insider sales by directors, which may temper enthusiasm a bit, though the transactions were disclosed and one was tied to a pre-arranged trading plan.
• Neutral Sentiment: Some articles noted that after the recent run-up, valuation may be demanding and future gains could depend on continued execution rather than multiple expansion alone.

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.