Snowflake Executive Benoit Dageville Sells Shares Valued at Over $222K

Snowflake Inc. (NYSE:) has disclosed in a recent filing that Benoit Dageville, the company’s President of Products, sold shares on September 17, 2024. Dageville sold 1,946 shares at a price of $114.39, resulting in total proceeds of over $222,602.

The sale was executed under a pre-arranged 10b5-1 trading plan, which allows insiders to systematically sell their stocks in compliance with insider trading regulations. Dageville established this plan on March 29, 2024.

Additionally, the filing indicated that shares were withheld to meet tax withholding obligations linked to the vesting of restricted stock units. Specifically, on September 16, 994 shares and 923 shares were withheld at a price of $113.67 per share, totaling $217,905.

Despite these transactions, Dageville retains a substantial ownership in Snowflake. The filing details that he continues to hold shares tied to the vesting of restricted stock units. Furthermore, Dageville acts as a trustee for The Snow Trust, which holds 4,910,205 shares of Class A Common Stock.

Insider transactions are closely monitored by investors and market analysts as they can provide valuable insights into an executive’s evaluation of the company’s future. Snowflake Inc., recognized for its cloud-based data warehousing services, has been a focal point for investors since its initial public offering.

In recent developments, Snowflake has announced a 30% year-over-year increase in product revenue, reaching $829 million for the second quarter of fiscal year 2025. The company has also raised its full-year product revenue guidance to project a 26% year-over-year growth, regarded as one of the highest rates among public software firms. Deutsche Bank has maintained its Buy rating on Snowflake while lowering its price target from $220 to $180, influenced by adjustments in guidance and forecasts.

The bank’s analysis reveals ongoing investor concerns about how effectively the company can translate its new features and investments in artificial intelligence into revenue. However, Deutsche Bank remains confident about Snowflake’s long-term opportunities, highlighting its strengths, including multi-cloud capabilities, user-friendliness, extensibility, and network effects. Moreover, the company’s second-quarter results indicate early signs of promising new product adoption, with about 25% of accounts using its AI features on a weekly basis.

As Snowflake maneuvers through the evolving cloud-based data warehousing landscape, a closer examination of its financial health and stock performance provides important context for understanding recent insider activity. The company’s market capitalization is approximately $37.14 billion, underscoring its significant industry position.

Snowflake’s management has shown confidence in its growth trajectory through proactive share buybacks, a strategy often interpreted as a bullish signal from company leadership. Additionally, the firm maintains a strong financial position, with more cash than debt, a reassuring indicator for investors amid fluctuating tech valuations.

Although Snowflake’s stock has faced challenges, trading close to its 52-week low and declining significantly over the past six months, analysts forecast that the company could achieve profitability this year, representing a potential turning point that may shape investor sentiment.

Data indicates that Snowflake is trading at a high revenue valuation multiple, with a price-to-book ratio of 8.99 for the twelve months ending in Q2 2025. While revenue has grown by 31.21% in that period, the company’s current price-to-earnings ratio stands at -36.32, reflecting a lack of profitability over the last year.

For investors looking to gain deeper insights into Snowflake’s financials and stock performance, additional analytical resources are available, offering comprehensive evaluations to support informed investment decisions. Currently, there are numerous tips available for Snowflake Inc., providing actionable insights for potential shareholders.

This article was generated with the support of AI and reviewed by an editor.