TLDR
- Snowflake director Frank Slootman sold 348,020 shares on August 18-19, 2026, for $97.4 million total.
- Sales were priced between $319.07 and $333.37 per share, all under a pre-arranged 10b5-1 trading plan.
- Slootman’s direct stake dropped by nearly 90%, leaving him with just 28,535 shares.
- SNOW trades around $321, up 65% over the past year and near its 52-week high of $341.95.
- Analysts remain mostly bullish: 34 Buy ratings, 5 Holds, 1 Sell, with a consensus price target of $320.65.
Snowflake (SNOW) director Frank Slootman sold 348,020 shares across August 18 and 19, 2026, pulling in $97.4 million. The stock was trading between $319.07 and $333.37 per share at the time of the sales.
SNOW is currently priced around $321, sitting close to its 52-week high of $341.95. The stock is up 65% over the past year.
The sales were carried out under a Rule 10b5-1 trading plan that Slootman put in place on September 19, 2025. These plans are pre-scheduled in advance and are a standard way for executives to sell stock without running into insider trading issues.
The transactions also involved options. Slootman exercised options to acquire 300,000 shares at $8.88 each, a total cost of $2.66 million, before selling them at much higher market prices.
On August 18, he picked up 251,010 shares through option exercise and sold 299,030. The next day, he added and sold another 48,990 shares.
After all the dust settled, Slootman directly holds just 28,535 shares. That is an 89.79% drop in his direct position. He still holds shares indirectly through several family trusts.
A Pattern of Selling
This is not a one-off. Slootman has been selling steadily for months. In May alone, he sold over 837,000 shares across two transactions. He sold another 400,000 in late May and followed that with hundreds of thousands more through June and July.
All of those sales were also made under the same pre-arranged trading plan.
The most recent batch came at notably higher prices than earlier in the year. His June sales were priced around $224 to $264 per share. The August sales were done at $319 to $333, reflecting how much the stock has climbed.
Analysts Still Bullish
Despite the heavy insider selling, Wall Street has not turned cold on SNOW. Of 40 analysts tracked by MarketBeat, 34 have a Buy rating, five have a Hold, and just one has a Sell. The consensus price target sits at $320.65.
UBS recently raised its target to $425, pointing to strong AI demand and forecasting 36-37% revenue growth for the second quarter. TD Cowen lifted its target to $370 with a Buy rating. Needham raised its target to $330, and Piper Sandler moved to $320.
Snowflake last reported earnings on May 27. Revenue came in at $1.39 billion, up 33.5% year over year, beating analyst estimates of $1.32 billion. EPS of $0.39 topped the $0.32 consensus.
Institutional investors have also been adding. Vanguard raised its stake by 5.1% in the fourth quarter. Jennison Associates increased its position by 27.7%. Norges Bank opened a new position worth roughly $974 million.
Snowflake’s next earnings report is expected to be a closely watched event, with UBS forecasting 36-37% product revenue growth for the quarter.
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