Snowflake director Michael Speiser disposes of $17.45m in stock

On October 2, 2026, Michael L. Speiser, a director at Snowflake Inc. (NASDAQ: SNOW), sold 50,741 shares of the company's common stock, amounting to approximately $17.45 million. The shares were traded at $344.0 per share. This transaction comes after Snowflake's stock has risen by 125% over the past six months, driving the company's market capitalization to $120.5 billion.

Despite this increase, some analysts believe the stock is currently overvalued compared to its estimated fair value. Speiser's sale involved the transfer of 50,741 shares, with 403 shares held directly by him and the remaining 50,338 shares indirectly held through various entities, including trusts and partnerships. All sales were made under a Rule 10b5-1 trading plan implemented by Speiser on December 27, 2024.

Following the sale, Speiser still holds a significant number of Snowflake shares, including 21,767 directly and 376,201 indirectly. He has no beneficial interest in the indirectly held shares, except for the financial benefit they may provide. Snowflake's recent performance has been impressive, with its second-quarter fiscal 2027 results showing a 37% year-over-year increase in product revenue.

This exceeded management expectations and analyst estimates, leading to an increased price target from Freedom Broker to $450, while maintaining a Buy rating. Other firms, such as PhillipCapital and StoneX, have also maintained a positive outlook on Snowflake, emphasizing the company's potential in AI monetization and cloud-native platforms.