Snowflake director Benoit Dageville sells $15.47 million in stock

Benoit Dageville, a director at Snowflake Inc., divested 50,000 shares of the company's stock on August 26, 2026, for a total of $15,472,000. The sale occurred at $309.44 per share and has since seen the stock price rise to $328, nearing its 52-week peak of $341.95. This surge follows a 95% increase over the past six months. Despite this, InvestingPro suggests Snowflake might be overvalued in its current state, a point to ponder as the company prepares to report earnings on September 2.

In the same announcement, Dageville gifted 16,668 shares of Snowflake common stock, valued at $0. His direct ownership now stands at 2,684,883 shares, including 180,958 shares set to vest over time. Indirectly, he and his family hold various trusts amounting to 3,736,225 shares. Snowflake's upcoming earnings report on September 2 is anticipated to drive a potential 12% stock movement, based on options data.

Analysts diverge in their expectations, with Benchmark raising its price target to $360 and TD Cowen to $370, both maintaining a Buy rating. Guggenheim remains neutral, citing strong product revenue growth. Morgans Stanley, however, keeps an Overweight rating with a $300 target, anticipating a 34% growth in product revenue.