Snowflake president of products sells $297,679 in stock

Published 19/03/2025, 23:34
Snowflake president of products sells $297,679 in stock

Benoit Dageville, President of Products at Snowflake Inc . (NYSE:SNOW), recently executed a sale of company shares. According to a Securities and Exchange Commission (SEC) Form 4 filing, Dageville sold 1,912 shares of Class A Common Stock on March 18, 2025, at a price of $155.69 per share, amounting to a total transaction value of $297,679. This sale was conducted under a 10b5-1 trading plan adopted on March 29, 2024. The transaction comes as Snowflake, currently valued at $51.6 billion, has seen its stock surge 37% over the past six months, though InvestingPro analysis suggests the stock is trading below its Fair Value.

Prior to this, on March 17, 2025, Dageville had 1,951 shares withheld to satisfy tax obligations related to the vesting of restricted stock units, with each share valued at $156.11. After these transactions, Dageville holds a direct ownership of 70,378 shares, alongside an indirect holding of 4,794,805 shares in a trust. Notably, 18 analysts have recently revised their earnings expectations upward for the upcoming period, according to InvestingPro data, which offers 10 additional valuable insights about Snowflake’s financial health and market position.

In other recent news, Snowflake Inc. has announced the appointment of Mike Gannon as its new Chief Revenue Officer, effective March 14, 2025, following the retirement of Chris Degnan. Degnan, who played a key role in achieving $3.4 billion in revenue for the last fiscal year, will assist in the transition to ensure a smooth handover. Additionally, Snowflake is set to open a new Silicon Valley AI Hub, pledging up to $200 million in investments for AI-focused startups, with the hub expected to launch in Summer 2025. This initiative includes a Startup Accelerator Program and aims to foster AI innovation and collaboration.

Furthermore, DA Davidson has reiterated its Buy rating on Snowflake, with a price target of $225, citing the company’s strong growth prospects and alignment with industry trends like artificial intelligence and cloud computing. The firm also highlighted Snowflake’s potential to maintain a growth rate of over 20% in 2025. Meanwhile, Monday.com has been identified by DA Davidson as a company with strong growth potential, despite market volatility, due to its resilient performance. These developments indicate a strategic focus on growth and innovation for both Snowflake and Monday.com amidst challenging economic conditions.

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