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Emily Ho, the Chief Accounting Officer of Snowflake Inc . (NYSE:SNOW), recently sold 1,508 shares of the company's Class A common stock. The shares were sold at a weighted average price ranging from $163.171 to $163.190 per share, amounting to a total transaction value of approximately $246,063. Following this transaction, Ho holds 44,760 shares directly. Additionally, there was a transfer of 4,000 shares without a sale price, which did not affect the overall share count significantly.The transaction occurs as Snowflake, currently valued at $54 billion, shows strong momentum with a 26% gain over the past six months. While the company isn't currently profitable, InvestingPro analysis reveals 33 analysts have revised their earnings upward for the upcoming period, suggesting potential improvement ahead. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro offers detailed research reports covering over 1,400 US stocks, including Snowflake.
In other recent news, Databricks has secured $10 billion in financing, pushing its valuation to a remarkable $62 billion. This funding will enable the company to provide liquidity options to its employees, pursue acquisitions, and expand internationally. The company also announced its projected revenue run rate of $3 billion for the quarter ending January 31, marking a milestone towards achieving positive free cash flow.
Meanwhile, Snowflake has been the focus of several analyst firms. Jefferies upgraded its price target for Snowflake to $200, reflecting the company's strategic emphasis on AI product development and its potential for significant returns. Baird and KeyBanc Capital Markets have also increased their price targets for Snowflake to $200 and $210 respectively, while Wedbush upgraded Snowflake's stock rating from Neutral to Outperform, setting a new price target at $190.00.
These recent developments come on the heels of robust financial performance from both companies. Databricks reported a year-over-year revenue growth of over 60% for the October quarter, while Snowflake demonstrated a 30.28% revenue growth and a gross profit margin of 67.33%.
In addition, Piper Sandler's 2025 CIO Survey revealed a strong outlook for IT spending, with a record 87% of respondents anticipating budget increases in 2025. This bodes well for both Databricks and Snowflake, as they continue to innovate and expand their offerings in the rapidly evolving tech sector.
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