Snowflake co-founder sells shares

Benoit Dageville, co-founder and director of Snowflake Inc., disposed of 66,668 shares of Snowflake common stock in July 2026. The transaction comprised an open-market sale of 50,000 shares at $276.53 per share and a gift of 16,668 shares, executed under a Rule 10b5-1 trading plan adopted on April 3, 2026. The sale occurred as Snowflake's stock had appreciated significantly, with a one-year return of 28% as of July 15 and nearly 55% over the prior six months by late July. Dageville retains a substantial stake of approximately 4.5 million shares, valued at around $1.24 billion. The transaction represents less than 1% of his total holdings and is viewed as not meaningful to investors. Snowflake continues to show strong revenue growth, with product revenue up 34% year over year, and analysts remain bullish, with Jefferies raising its price target to $310 and UBS reiterating a Buy rating with a $370 target. The company also announced a compensation package for CEO Sridhar Ramaswamy valued at up to $448 million, tied to market cap doubling over seven years.