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Benoit Dageville, President of Products at Snowflake Inc . (NYSE:SNOW), recently reported the sale of 6,250 shares of Class A Common Stock. The shares were sold on January 10, 2025, at a price of $160.99 each, amounting to a total transaction value of approximately $1,006,187. The transaction occurred near Snowflake's current trading price of $162.48, with the company commanding a market capitalization of $53.4 billion. According to InvestingPro analysis, the stock is currently trading at Fair Value.
In addition to the sale, Dageville also exercised stock options to acquire 6,250 shares at a price of $0.74 per share on the same day. Following these transactions, Dageville holds a total of 47,710 shares directly.
These transactions were executed as part of a pre-established 10b5-1 trading plan, which was adopted on March 29, 2024.
In other recent news, Snowflake Inc. has seen a positive shift in analyst ratings and price targets, reflecting confidence in the company's growth prospects. Barclays (LON:BARC) raised Snowflake's stock rating to Overweight, with a price target of $190, attributing the upgrade to the company's strong product lineup and improved sales efficiency. Similarly, Piper Sandler increased Snowflake's stock target to $208, highlighting the company's potential growth in the realms of artificial intelligence (AI), data engineering, and machine learning.
Jefferies also raised its price target for Snowflake to $200, emphasizing the company's focus on AI product development. Baird and KeyBanc Capital Markets mirrored this confidence in Snowflake's growth trajectory, raising their price targets to $200 and $210 respectively.
In contrast, Databricks secured a massive $10 billion in Series J funding, propelling its valuation to $62 billion. The funds will be used for new AI products, strategic acquisitions, and expansion of international go-to-market strategies. The company also expects to surpass $3 billion in annual recurring revenue and achieve positive free cash flow in the fourth quarter.
These are recent developments in the data and analytics sector, reflecting the dynamic growth and competitive landscape of these companies.
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