Snowflake (SNOW) Director Offloads Nearly $100M as Stock Nears Peak

Key Points

• Frank Slootman, a Snowflake director, executed sales of 348,020 shares during August 18-19, 2026, totaling $97.4 million.
• The transactions occurred at prices ranging from $319.07 to $333.37 per share via a pre-established 10b5-1 plan.
• His direct ownership plummeted approximately 90%, with only 28,535 shares remaining in direct holdings.
• Shares of SNOW currently trade near $321, reflecting a 65% gain year-over-year and approaching the 52-week peak of $341.95.
• Wall Street sentiment stays positive: 34 analysts rate it a Buy, 5 suggest Hold, and 1 recommends Sell, with an average target of $320.65.

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A significant insider transaction unfolded at Snowflake (SNOW) as director Frank Slootman divested 348,020 shares over a two-day period spanning August 18-19, 2026. The sale generated proceeds of $97.4 million, with shares moving at values between $319.07 and $333.37.

Snowflake Inc., SNOW

Trading at approximately $321 per share, SNOW remains in proximity to its 52-week zenith of $341.95. The company’s shares have surged 65% in the trailing twelve-month period.

These dispositions occurred through a Rule 10b5-1 trading arrangement that Slootman established on September 19, 2025. Such mechanisms allow company insiders to execute predetermined stock transactions while avoiding potential insider trading complications.

The sales also incorporated stock option exercises. Slootman converted options into 300,000 shares at an exercise price of $8.88 apiece, representing an aggregate expenditure of $2.66 million, before offloading them at significantly elevated market valuations.

During the initial day, he acquired 251,010 shares via option conversion and disposed of 299,030 shares. The following session saw him exercise and sell an additional 48,990 shares.

Following these transactions, Slootman maintains direct ownership of merely 28,535 shares—representing an 89.79% reduction in his direct holdings. He continues to hold additional shares through various family trust structures.

Sustained Divestiture Activity

This recent transaction represents part of a broader pattern. Slootman has maintained consistent selling activity throughout recent months. May witnessed him divesting over 837,000 shares through two separate transactions. Another 400,000 shares were sold in late May, with hundreds of thousands more following during June and July.

Each of these sales was executed under the identical pre-scheduled trading framework.

The August transactions commanded substantially higher valuations compared to earlier 2026 sales. His June dispositions occurred at approximately $224 to $264 per share. The most recent sales at $319 to $333 showcase the stock’s significant appreciation.

Wall Street Maintains Optimism

Notwithstanding the substantial insider selling activity, analyst sentiment toward SNOW remains predominantly favorable. Among 40 analysts monitored by MarketBeat, 34 maintain Buy recommendations, five suggest Hold ratings, and only one advises Sell. The average price objective stands at $320.65.

UBS recently elevated its price target to $425, citing robust artificial intelligence demand and projecting 36-37% revenue expansion for the upcoming quarter. TD Cowen increased its target to $370 alongside a Buy rating. Needham adjusted its objective to $330, while Piper Sandler moved to $320.

The company’s most recent quarterly results were released on May 27. Revenue reached $1.39 billion, representing 33.5% year-over-year growth and surpassing analyst projections of $1.32 billion. Earnings per share of $0.39 exceeded the consensus estimate of $0.32.

Major institutional stakeholders have been accumulating positions. Vanguard expanded its holdings by 5.1% during the fourth quarter. Jennison Associates grew its stake by 27.7%. Norges Bank initiated a fresh position valued at approximately $974 million.

Market participants anticipate Snowflake’s forthcoming earnings announcement will draw considerable attention, with UBS projecting 36-37% product revenue growth for the period.

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Source: https://blockonomi.com/snowflake-snow-director-offloads-nearly-100m-as-stock-nears-peak/