Snowflake Inc. (NYSE: SNOW) provides a cloud-based data platform that helps organizations store, manage, and analyze massive datasets across multiple clouds. The company has quickly risen to become one of the most closely followed names in cloud software, recently trading around $200 per share with a market capitalization near $67 billion.
Once known primarily as a niche data warehousing platform, Snowflake has evolved into a central player in the shift toward cloud analytics and the broader AI economy. Its Data Cloud makes it easier for businesses to share and collaborate on data securely, giving Snowflake a position that is difficult for rivals to replicate.
Despite impressive revenue growth and a loyal enterprise customer base, Snowflake still faces questions around profitability, with margins deeply negative and returns under pressure. That balance between rapid expansion and limited earnings makes it a stock closely watched by institutions and hedge funds. While insiders were instrumental in building the company, ownership today is spread widely across the world’s largest asset managers and active investors.
Looking at who owns the stock and how insiders are trading gives a glimpse into how major investors may be viewing Snowflake right now.
Who Are Snowflake’s Top Shareholders?
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Snowflake provides a cloud-based data platform that lets businesses store, share, and analyze information across multiple clouds. Its stock is widely held by passive managers, while several active funds have recently made large adjustments.
- The Vanguard Group: 27.6M shares (8.3%), ~$5.54B. Added 583K (+2.1%).
- BlackRock: 12.1M shares (3.6%), ~$2.42B. Added 331K (+2.8%).
- Jennison Associates: 8.0M shares (2.4%), ~$1.60B. Added 1.36M (+20.5%).
- Fidelity Management: 7.6M shares (2.3%), ~$1.53B. Added 2.65M (+53.3%).
- JP Morgan Asset Management: 7.5M shares (2.3%), ~$1.50B. Added 1.32M (+21.3%).
- State Street: 6.9M shares (2.1%), ~$1.38B. Added 94K (+1.4%).
- Morgan Stanley IM: 5.5M shares (1.7%), ~$1.10B. Cut 208K (–3.6%).
- Artisan Partners: 5.0M shares (1.5%), ~$992M. Added 652K (+15.2%).
- Geode Capital: 4.4M shares (1.3%), ~$886M. Added 133K (+3.1%).
- Nuveen: 4.3M shares (1.3%), ~$865M. Added 589K (+15.8%).
One highlight from last quarter is DE Shaw’s big move, boosting its Snowflake position by 379%. The fund now owns about 397K shares worth $88.8 million, which looks like a strong show of confidence in the stock after recent volatility.
Another standout is Point72 Asset Management, led by Steven Cohen, which lifted its stake by 288%. The firm now holds roughly 2.68 million shares valued at nearly $600 million, suggesting it may see Snowflake as a key play on cloud and AI growth.
Vanguard and BlackRock keep Snowflake anchored in index portfolios. Fidelity’s 53% increase and Jennison’s 20% addition show that some active managers appear to see long-term upside, while Morgan Stanley’s trim shows not all are convinced. Hedge fund moves from DE Shaw and Point72 suggest that some managers are taking aggressive bets on Snowflake’s role in the cloud and AI ecosystem.
See whether Snowflake’s top shareholders are buying or selling today >>>
Snowflake’s Recent Insider Trades
Insider activity at Snowflake has leaned toward steady selling. While insider sales can be routine or tied to diversification, the absence of meaningful insider buying can leave investors wondering whether management sees the shares as fully priced for now.
Here are some recent insider trades:
- Benoit Dageville (Officer & Director): Received nearly 45,000 shares as part of compensation at ~$215 in August, and sold these shares.
- Michael Speiser (Director): Sold multiple lots in July, from a few hundred to over 10,000 shares, mostly around $208–$209.
The recent sales look more like ongoing disposals than fresh conviction buying. These may be part of scheduled trading plans, but the lack of insider accumulation suggests leaders are not rushing to increase exposure at today’s price levels.
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What the Ownership & Insider Trade Data Tell Us
Snowflake’s ownership is anchored by passive giants like Vanguard and BlackRock, which helps keep the stock widely held in global portfolios. Some active managers such as Fidelity and Jennison have made large additions, which may signal stronger conviction in the company’s long-term growth prospects, while others like Morgan Stanley have trimmed positions, showing a more cautious stance.
Insider activity appears tilted toward steady selling, mainly from directors and co-founders. These sales may be part of diversification or planned trades, but the lack of meaningful insider buying suggests leadership may not view the current stock price as especially attractive.
For investors, the overall picture looks mixed. Institutions appear willing to increase exposure, reflecting optimism about Snowflake’s role in cloud and AI, while insiders seem more restrained. That combination may point to cautious confidence in the business, tempered by near-term concerns around profitability.
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