Snowflake Stock: Executives Sell Shares Amid Growth

Several top executives at cloud data specialist Snowflake Inc. recently sold company shares as part of pre-arranged trading plans. Product Chief Benoit Dageville sold 548 shares at an average price of €147.24, totaling €80,687, while Director Frank Slootman divested 1,783 Class A shares at the same price, generating €262,528. Executive VP Christian Kleinerman similarly sold 685 shares, yielding €100,859. These transactions occurred shortly after the executives received Restricted Stock Units (RSUs) that vest quarterly over four years. Following these sales, Dageville maintains ownership of 74,241 shares directly and 4,794,805 shares through the Snow Trust, while Slootman retains 192,511 shares directly. The company also appointed Mike Gannon as the new Chief Revenue Officer effective March 14, 2025, replacing the retiring Chris Degnan.

Positive Business Performance Despite Share Sales

Despite executive stock transactions, Snowflake demonstrates impressive business momentum with shares gaining 34 percent over the past six months, currently trading around €152. The company exceeded fourth-quarter product revenue expectations by 3-4 percent while significantly improving operating margins. In response, Deutsche Bank raised its price target to €220 while maintaining a buy recommendation, and Stifel increased its target to €210, highlighting Snowflake's stable core business and effective cost management. The company is simultaneously strengthening its AI focus by opening a new Silicon Valley AI hub and planning investments of up to €200 million in AI-focused startups, underscoring its commitment to solidifying its position in the competitive cloud computing sector.

Ad

Fresh Snowflake information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.

Source StockWorld