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Frank Slootman, a director at Snowflake Inc . (NYSE:SNOW), recently sold 1,783 shares of Class A Common Stock, amounting to $262,528. The shares were sold at an average price of $147.24 on March 11, 2025. The transaction comes as Snowflake trades near $152, with the stock showing strong momentum, up 34% over the past six months. According to InvestingPro data, analysts maintain a bullish outlook, with 18 analysts recently revising their earnings estimates upward. This transaction was conducted under a pre-established 10b5-1 trading plan adopted by Slootman on September 30, 2024.
Additionally, on March 10, 2025, Slootman disposed of 987 shares at a price of $158.91 to cover tax obligations related to the vesting of restricted stock units, totaling $156,844. Following these transactions, Slootman holds 192,511 shares directly, with additional shares held indirectly through various trusts and foundations.
In other recent news, Snowflake Inc. has announced several key developments that are capturing the attention of investors. The company reported robust fourth-quarter earnings, with product revenue exceeding expectations by 3-4% and operating margins showing significant improvement. Deutsche Bank (ETR:DBKGn) has responded by raising its price target for Snowflake shares to $220, maintaining a Buy rating, while Stifel also increased their target to $210, citing the company’s strong performance and future growth prospects. Additionally, Snowflake is making a strategic move by opening a new Silicon Valley AI Hub and pledging up to $200 million to invest in AI-focused startups, further expanding its footprint in the AI sector.
In leadership news, Snowflake appointed Mike Gannon as the new Chief Revenue Officer, effective March 14, 2025, following the retirement of Chris Degnan. Gannon’s extensive experience in sales leadership roles is expected to contribute positively to Snowflake’s growth strategies. Meanwhile, the company’s CFO, Mike Scarpelli, has announced his retirement, although he leaves the company in a strong operational state. These changes come as Snowflake continues to solidify its presence in the competitive cloud computing industry.
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