Snowflake director Michael Speiser sells $13.7 million in shares

Snowflake Inc. (NYSE:SNOW) director Michael L. Speiser sold 49,901 shares of the company's common stock on November 6, 2026, generating approximately $13,769,040 in revenue. The share prices ranged between $272.0028 and $279.9773 upon his transaction. At the time of sale, Snowflake's stock was trading at $295.76, reflecting a 95% increase over the past six months. However, InvestingPro data suggests the company's stock is currently overvalued compared to its fair value.

Mr. Speiser executed this sale in accordance with a Rule 10b5-1 trading plan that he established on December 27, 2024. Out of the total shares sold, 403 were sold directly by Mr. Speiser, while the remaining 49,498 shares were distributed among various entities, including trusts for which he serves as a trustee or holds a financial interest. This information was disclosed in a Form 4 filing made public on November 10, 2026.

Snowflake Inc. recently reported robust growth in its second-quarter fiscal 2027, driven by the widespread adoption of its AI products. The CoCo and CoWork products garnered 9,100 and 5,800 accounts, respectively, leading to a 37% year-over-year increase in product revenue. This represents Snowflake's most significant growth in three years.

Analysts from PhillipCapital have initiated coverage with a buy rating and a price target of $423.00, emphasizing the accelerating adoption of cloud-native platforms. Truist Securities has also reiterated a buy rating, citing strong demand for Snowflake's CoCo product. Yorkville Ives and StoneX have similarly initiated coverage with outperform and buy ratings, respectively, highlighting Snowflake's strategic position in enterprise AI and the necessity of infrastructure layers in enterprise environments.

Furthermore, a Goldman Sachs analysis revealed that software companies, including Snowflake, demonstrated healthy fundamentals in the second quarter of 2026, with revenue performance surpassing expectations.