On September 1, Snowflake fell 3.37% in regular trading, trading at $321.675/share, with turnover of approximately $136 million. The decline came as the broader Internet Services & Infrastructure sector sold off ahead of Snowflake's second-quarter earnings report, scheduled for release after market close on September 2.

The sector saw broad-based weakness, with CoreWeave down 4.05%, Shopify down 3.73%, MongoDB down 3.66%, Cloudflare down 3.32%, and Okta down 2.91%, reflecting widespread risk-off sentiment across cloud and infrastructure names. The market consensus expects Snowflake to report revenue of approximately $1.482 billion, representing 36.2% year-over-year growth, with adjusted EPS of around $0.45.

Adding to short-term pressure, Director Benoit Dageville has been a consistent seller in recent months. On August 26, Dageville sold 50,000 shares and gifted 16,668 shares at a price of $309.44, cashing out approximately $15.47 million. This followed a similar transaction in late July, when Dageville sold 50,000 shares at $280 per share under a pre-established 10b5-1 trading plan. The consecutive insider sales have weighed on near-term sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)