Snowflake director Frank Slootman sells $94.9 million in shares

Snowflake Inc. director Frank Slootman sold approximately $94.9 million worth of company shares on October 19, 2026, according to a recent SEC filing. The transactions, conducted between $311.06 and $319.995 per share, were executed under a pre-arranged Rule 10b5-1 trading plan. The sale occurred as Snowflake shares have surged 114% over the past six months, currently trading at $322.73.

Analysts believe the stock is overvalued at present levels. Prior to these sales, Slootman bought 300,000 shares by exercising fully vested stock options for $8.88 per share, totaling $2.66 million. After these transactions, he directly holds 19,024 shares and has indirect holdings through various trusts. Snowflake reported strong financial performance, with AI products driving a 37% year-over-year product revenue growth, marking the company's strongest growth in three years.

Investment firms have initiated coverage on Snowflake, with ratings ranging from buy to outperform and price targets between $400.00 and $423.00.