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Michael Scarpelli, Chief Financial Officer of Snowflake Inc . (NYSE:SNOW), executed several stock transactions on March 25, 2025, according to a recent SEC filing. Scarpelli sold a total of 299,000 shares of Class A Common Stock, generating approximately $48.96 million. The sales were executed at prices ranging between $162.705 and $164.444 per share, notably above the current trading price of $156.98. According to InvestingPro data, the stock has shown strong momentum with a 40% gain over the past six months.
In addition to the sales, Scarpelli exercised stock options to acquire 300,000 shares at a price of $8.88 per share, totaling $2.66 million. Following these transactions, Scarpelli holds 292,610 shares directly, with additional shares held in various trusts and a family trust.
These transactions were part of regular financial activities and provide insight into the executive’s stock management strategy.
In other recent news, Snowflake Inc. has announced the appointment of Mike Gannon as its new Chief Revenue Officer, effective March 14, 2025. This change follows the retirement of Chris Degnan, who played a pivotal role in Snowflake’s growth to $3.4 billion in revenue for the last fiscal year. Gannon, with his extensive experience from VMware (NYSE:VMW) by Broadcom (NASDAQ:AVGO), is expected to contribute significantly to Snowflake’s future strategies and market expansion. Additionally, RBC Capital Markets has maintained its Outperform rating on Snowflake with a price target of $221, citing the company’s strong leadership and market potential. DA Davidson also reaffirmed its Buy rating for Snowflake, setting a price target of $225, and highlighted the company’s strategic alignment with industry trends like artificial intelligence and cloud computing. In the broader software sector, DA Davidson noted Monday.com as a resilient stock amidst market volatility, suggesting it could demonstrate robust growth despite economic uncertainties. These recent developments underscore the dynamic changes and potential investment opportunities within the software industry.
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