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Benoit Dageville, President of Products and director at Snowflake Inc. (NASDAQ:SNOW), sold 1,081 shares of common stock on September 9 at a price of $223.86, for a total value of $241,992. The transaction comes as Snowflake’s stock has delivered an impressive 101% return over the past year, with shares currently trading near their 52-week high of $249.99.
On September 8, Dageville also disposed of 1,105 shares of Snowflake common stock at $225.58. The shares were disposed of to cover tax obligations, resulting in a total value of $249,265. The company, currently valued at $76.6 billion, has maintained a "Buy" consensus from analysts, with targets ranging from $170 to $440.
Following these transactions, Dageville directly owns 56,139 shares of Snowflake, and indirectly owns 3,146,555 shares through The Snow Trust UTA dated 9/10/19, 750,000 shares through The Selene GRAT No. 1 dated 3/13/2025. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed insider transaction history and expert analysis.
In other recent news, Snowflake announced the retirement of its Chief Financial Officer, Mike Scarpelli, effective September 22. Brian Robins, currently CFO at GitLab, will take over Scarpelli’s responsibilities, leading Snowflake’s global finance organization. This transition aims to support Snowflake’s continued growth. In its latest earnings report, Snowflake reported product revenue of $1,090 million, marking a 32% year-over-year increase and surpassing consensus estimates by $47 million. The company’s remaining performance obligations rose to $6,932 million, reflecting a 33% increase. Analysts have responded positively to Snowflake’s performance, with Macquarie raising its price target to $235, Piper Sandler increasing it to $285, and TD Cowen setting it at $275. The firms highlighted Snowflake’s growth acceleration, driven by both core consumption and new AI developments. These recent developments underscore Snowflake’s strategic shifts and financial progress.
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