Snowflake president of products sells $80,687 in stock

Benoit Dageville, President of Products at Snowflake Inc . (NYSE:SNOW), sold shares of the company’s Class A common stock valued at $80,687. The transaction, which took place on March 11, 2025, involved the sale of 548 shares at an average price of $147.24 per share. The sale comes as Snowflake’s stock, currently trading at $152.37, shows mixed performance with a 34% gain over the past six months but recent weakness in the past month, according to InvestingPro data. This sale was conducted under a pre-arranged 10b5-1 trading plan, which Dageville adopted on March 29, 2024.

In a separate transaction on March 10, 2025, Dageville acquired 8,624 restricted stock units (RSUs) at no cost. These RSUs will vest quarterly over four years, subject to his continuous service with the company. Additionally, on the same day, 560 shares were withheld at a price of $158.91 each to cover tax obligations related to the vesting of RSUs.

Following these transactions, Dageville holds a total of 74,241 shares directly. He also maintains indirect ownership of 4,794,805 shares held in The Snow Trust, for which he serves as a trustee. Based on the current market capitalization of $50.39 billion, Dageville’s total holdings represent a significant stake in the company, which currently trades near its InvestingPro Fair Value.

In other recent news, Snowflake Inc. reported strong fourth-quarter earnings, with product revenue surpassing expectations by 3-4% and a notable improvement in operating margin. Deutsche Bank (ETR:DBKGn) analysts responded by raising their price target for Snowflake shares to $220, maintaining a Buy rating due to the company’s robust performance and positive outlook for fiscal year 2026. Similarly, Stifel analysts increased their price target to $210, also maintaining a Buy rating, and highlighted the company’s stable core business and effective cost management strategies. In executive news, Snowflake announced the appointment of Mike Gannon as the new Chief Revenue Officer, effective March 14, 2025, succeeding the retiring Chris Degnan. This leadership change is part of Snowflake’s strategy to maintain its growth trajectory in the competitive cloud computing industry. Additionally, Snowflake is set to open a new Silicon Valley AI Hub and has pledged up to $200 million to invest in AI-focused startups, further emphasizing its commitment to AI innovation. The company also plans to expand its Startup Accelerator Program in partnership with venture capital firms like Altimeter and Sequoia Capital. These developments reflect Snowflake’s ongoing efforts to solidify its market position and foster growth in the AI and cloud data platform sectors.

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