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Snowflake slides as investors weigh financing overhang and weak AI-tech sentiment

Investivoq PriceTracker

Snowflake (SNOW) is down 4.3% today. Here is some analysis on what might have caused this price movement. ([investors.snowflake.com](https://investors.snowflake.com/overview/default.aspx?utm_source=openai))

Analysis: A single new company-specific catalyst is not obvious, so the move appears tied to a mix of lingering financing concerns and broader weakness in AI-focused technology stocks. This could be because investors are still digesting Snowflake’s large convertible-notes deal from late September while also positioning cautiously ahead of the company’s December 2 earnings event. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1640147/000164014726000043/exhibit991-launchpressrele.htm?utm_source=openai))

Details:

  • Snowflake announced a proposed private placement of $3.5 billion of 0.00% convertible senior notes, a structure that can raise concerns about future dilution even when paired with hedging transactions. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1640147/000164014726000043/exhibit991-launchpressrele.htm?utm_source=openai))
  • The transaction was later priced at an upsized $3.75 billion, with proceeds earmarked for capped calls, repurchasing some 2027 notes, and general corporate purposes. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1640147/000164014726000043/exhibit992-pricingpressrel.htm?utm_source=openai))
  • Snowflake’s most recent quarterly report was fundamentally solid, with second-quarter fiscal 2027 revenue of $1.55 billion and increased full-year product revenue guidance, which suggests today’s drop is more about sentiment than a fresh operating miss. ([investors.snowflake.com](https://investors.snowflake.com/financials/quarterly-results/default.aspx?utm_source=openai))
  • The broader market backdrop has also been shaky for AI-heavy technology names, with a renewed sell-off hitting parts of the sector today. ([apnews.com](https://apnews.com/article/f8edd0eeb1494d4d2584715686c5e619?utm_source=openai))

    • Sources:

    SEC, Snowflake Investor Relations, Associated Press

    Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

    $SNOW Insider Trading Activity

    SNOW Insider Trades

    $SNOW insiders have traded $SNOW stock on the open market 295 times in the past 6 months. Of those trades, 0 have been purchases and 295 have been sales.

    Here’s a breakdown of recent trading of $SNOW stock by insiders over the last 6 months:

    • FRANK SLOOTMAN has made 0 purchases and 117 sales selling 2,716,257 shares for an estimated $731,406,883.
    • BENOIT DAGEVILLE has made 0 purchases and 11 sales selling 640,819 shares for an estimated $189,789,150.
    • MICHAEL L SPEISER has made 0 purchases and 133 sales selling 304,446 shares for an estimated $91,383,049.
    • CHRISTIAN KLEINERMAN (EVP, Product Management) has made 0 purchases and 23 sales selling 156,760 shares for an estimated $48,582,880.
    • MARK GARRETT has made 0 purchases and 2 sales selling 150,000 shares for an estimated $42,500,200.
    • JONATHAN MEAD BEAULIER (Chief Revenue Officer) has made 0 purchases and 3 sales selling 22,414 shares for an estimated $6,558,546.
    • VIVEK RAGHUNATHAN (SVP, Engineering) has made 0 purchases and 2 sales selling 7,752 shares for an estimated $2,164,784.
    • EMILY HO (Chief Accounting Officer) has made 0 purchases and 2 sales selling 2,628 shares for an estimated $687,668.
    • TERESA BRIGGS has made 0 purchases and 2 sales selling 687 shares for an estimated $175,098.

    To track insider transactions, check out Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq API insider transaction endpoint.

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    $SNOW Hedge Fund Activity

    We have seen 904 institutional investors add shares of $SNOW stock to their portfolio, and 708 decrease their positions in their most recent quarter.

    Here are some of the largest recent moves:

    • JPMORGAN CHASE & CO added 4,864,842 shares (+52.8%) to their portfolio in Q3 2026, for an estimated $1,651,905,749
    • PRICE T ROWE ASSOCIATES INC /MD/ added 3,859,000 shares (+264.2%) to their portfolio in Q2 2026, for an estimated $982,115,500
    • MORGAN STANLEY removed 3,726,913 shares (-51.7%) from their portfolio in Q2 2026, for an estimated $948,499,358
    • BLACKROCK, INC. added 3,442,706 shares (+12.3%) to their portfolio in Q2 2026, for an estimated $876,168,677
    • POINT72 ASSET MANAGEMENT, L.P. added 2,703,366 shares (+2448.7%) to their portfolio in Q2 2026, for an estimated $688,006,647
    • ASCENTIS WEALTH MANAGEMENT, LLC removed 2,433,705 shares (-99.6%) from their portfolio in Q3 2026, for an estimated $826,388,869
    • SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. removed 1,973,040 shares (-100.0%) from their portfolio in Q3 2026, for an estimated $669,965,462

    To track hedge funds' stock portfolios, check out Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq API 13F endpoint.

    $SNOW Congressional Stock Trading

    Members of Congress have traded $SNOW stock 4 times in the past 6 months. Of those trades, 3 have been purchases and 1 have been sales.

    Here’s a breakdown of recent trading of $SNOW stock by members of Congress over the last 6 months:

    • REPRESENTATIVE MARIA ELVIRA SALAZAR has traded it 3 times. They made 2 purchases worth up to $65,000 on 09/04 and 1 sale worth up to $15,000 on 09/24.
    • REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 08/07.

    To track congressional stock trading, check out Investivoq's congressional trading dashboard. You can access data on congressional stock trades through the Investivoq API Congress trades endpoint.

    $SNOW Price Targets

    Multiple analysts have issued price targets for $SNOW recently. We have seen 30 analysts offer price targets for $SNOW in the last 6 months, with a median target of $300.0.

    Here are some recent targets:

    • Patrick Colville from Scotiabank set a target price of $320.0 on 06/08/2026
    • Miller Jump from Truist Securities set a target price of $300.0 on 06/05/2026
    • Raimo Lenschow from Barclays set a target price of $285.0 on 06/04/2026
    • Mark Schappel from Loop Capital set a target price of $320.0 on 06/03/2026
    • Karl Keirstead from UBS set a target price of $370.0 on 06/03/2026
    • Rob Owens from Piper Sandler set a target price of $320.0 on 06/03/2026
    • Steve Koenig from Macquarie set a target price of $200.0 on 06/03/2026

    This article is not financial advice. See Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.