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Christian Kleinerman, executive vice president of product management at Snowflake Inc (NYSE:SNOW), sold 10,000 shares of common stock on September 2, 2025, at a price of $233.50, for a total value of $2.33 million. The sale comes as Snowflake’s stock has seen a -7.9% decline over the past week, though it maintains a strong 28% gain over the last six months, according to InvestingPro data.
Following the transaction, Kleinerman directly owns 527,336 shares of Snowflake Inc . common stock. This number includes shares to be issued in connection with the vesting of one or more restricted stock units.
Kleinerman also indirectly owns 48,568 shares through the Kleinerman 2020 Dynasty LLC, for which he is the manager and his immediate family members are the beneficiaries; 33,499 shares are held by the Christian Kleinerman 2022 Grantor Retained Annuity Trust dated June 24, 2022, for which Kleinerman is the trustee; 100,000 shares are held by the Christian Kleinerman 2023 Grantor Retained Annuity Trust dated September 1, 2023, for which Kleinerman is the trustee; and 100,000 shares are held by the Christian Kleinerman 2024 Grantor Retained Annuity Trust dated December 20, 2024, for which Kleinerman is the trustee.
The sale was executed under a 10b5-1 trading plan adopted on December 19, 2024.
In other recent news, Snowflake announced that Chief Financial Officer Mike Scarpelli will retire, effective September 22. Brian Robins, currently the CFO at GitLab, has been named as his successor and will oversee Snowflake’s global finance operations. Scarpelli will remain with the company temporarily to ensure a smooth transition before moving into an advisory role. Additionally, Snowflake reported strong second-quarter earnings, with product revenue reaching $1,090 million, marking a 32% year-over-year growth. This performance exceeded consensus estimates by $47 million and resulted in a 33% increase in remaining performance obligations, now totaling $6,932 million.
Analyst firms have responded positively to these developments. Macquarie raised its price target for Snowflake to $235, maintaining a Neutral rating, while TD Cowen increased its target to $275, maintaining a Buy rating. Piper Sandler also raised its price target to $285, citing growth driven by both core consumption and new artificial intelligence developments. These recent changes and financial results have highlighted Snowflake’s continued growth trajectory and strategic adjustments.
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