TL;DR
Two major Snowflake directors have executed significant stock sales totaling more than $91 million as the cloud data platform company’s shares trade near all-time highs.
July 9, 2025
Slootman’s Massive $80.2 Million Exit
Frank Slootman, a prominent director at Snowflake Inc. (NASDAQ: SNOW), orchestrated the largest transaction, selling approximately $80.2 million worth of company shares over two consecutive trading days in early July.
According to SEC Form 4 filings, Slootman disposed of 205,364 shares on July 2nd and an additional 174,059 shares on July 3rd, with sale prices ranging from $215.598 to $222.075 per share.
The transactions were executed under a prearranged 10b5-1 trading plan.
Simultaneously, Slootman exercised stock options to acquire 366,764 shares at a strike price of just $8.88 per share, generating a total value of $3.26 million for the newly acquired positions.
Following these substantial transactions, Slootman’s direct ownership in Snowflake was reduced to 165,507 shares, though this figure excludes additional holdings through various trusts and foundations.
Speiser Adds to Selling Pressure
Director Michael L. Speiser contributed additional selling pressure just days later, disposing of 50,001 shares on July 7th for approximately $11.2 million.
The sale was executed at a weighted-average price of $221.469, with individual transactions occurring between $221.250 and $222.205 per share.
Speiser’s sale was also conducted under a 10b5-1 trading plan established on December 27, 2024. Post-transaction, Speiser maintains direct ownership of 26,539 shares while controlling an additional 2.18 million shares through various trusts and a limited partnership structure.
Market Context and Timing
The timing of these substantial insider sales is noteworthy, as Snowflake’s stock currently trades at $225.79, dangerously close to its 52-week high of $225.86.
The company has delivered impressive returns to shareholders, with gains exceeding 42% over the past six months and an annual return of approximately 58%.
Despite the strong performance, some analysts suggest the stock may be overvalued at current levels. The company continues to receive positive analyst coverage, with multiple firms maintaining Buy ratings and price targets ranging from $220 to $265.
While insider selling doesn’t necessarily indicate negative sentiment about the company’s prospects, the magnitude and timing of these transactions (totaling over $91 million) may warrant attention from investors monitoring insider activity patterns at the cloud data giant.