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Director Frank Slootman sold 7,551 shares of Snowflake Inc. (NYSE:SNOW) on September 16, 2025, at a price of $221.24, totaling approximately $1.67 million. The sale comes as Snowflake’s stock has surged 95% over the past year, with the company now commanding a market capitalization of $73.9 billion. According to a Form 4 filing with the Securities and Exchange Commission, the sale was executed under a 10b5-1 trading plan adopted on March 26, 2025. InvestingPro analysis indicates the stock is trading above its Fair Value, with 37 analysts recently revising their earnings expectations upward.
On September 15, 2025, Slootman also disposed of 1,960 shares of Snowflake common stock at a price of $221.15 per share, to cover tax obligations, for a total value of $433,454.
Following these transactions, Slootman directly owns 153,226 shares of Snowflake. He also indirectly owns shares through various trusts, an LLC, and a foundation.
In other recent news, Snowflake reported strong second-quarter results, with product revenue reaching $1,090 million, marking a 32% year-over-year increase. This growth exceeded consensus estimates by $47 million, with remaining performance obligations rising to $6,932 million. Notably, the company’s net revenue retention improved to 125%. In a leadership change, Snowflake announced that Brian Robins, previously CFO at GitLab Inc., will replace retiring CFO Mike Scarpelli on September 22. Scarpelli will stay on temporarily to ensure a smooth transition. Analyst firms have reacted positively to Snowflake’s performance, with Macquarie raising its price target to $235, citing strong Q2 results. Piper Sandler increased its price target to $285, highlighting the company’s accelerating product growth and AI-driven advancements. Similarly, TD Cowen raised its price target to $275, noting improvements in revenue growth, obligations, and customer spending.
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