Benoit Dageville, President of Products at Snowflake Inc . (NYSE:SNOW), recently sold 12,500 shares of the company's Class A common stock. The shares were sold on February 6, 2025, at an average price of $189.11, resulting in a total transaction value of approximately $2.36 million. The transaction comes as Snowflake, now valued at over $60 billion, maintains strong revenue growth of 30% year-over-year. According to InvestingPro data, 33 analysts have recently revised their earnings expectations upward for the upcoming period.
The transactions were part of a pre-established 10b5-1 trading plan adopted by Dageville on March 29, 2024. Following this sale, Dageville retains ownership of 47,710 shares directly, with additional shares held indirectly through a trust. The sale was accompanied by the exercise of stock options, which also involved 12,500 shares at a price of $0.74 per share. InvestingPro analysis shows the company maintains a FAIR financial health score, with management actively engaging in share buybacks. Discover more insights and 10 additional ProTips with an InvestingPro subscription.
In other recent news, Snowflake Inc. has been in the spotlight with several analysts revising their outlooks. Wedbush Securities raised its price target for Snowflake to $210, citing a stronger product demand and continuous innovation, particularly in AI and machine learning capabilities. Meanwhile, Cantor Fitzgerald initiated its coverage of Snowflake with an Overweight rating, highlighting the company's position as a frontrunner in the cloud data warehousing sector and robust Remaining Performance Obligations growth.
Barclays (LON:BARC) also revised its rating for Snowflake to Overweight, indicating a positive shift in expectations for the company's FY26 performance. This reassessment was based on Snowflake's stronger lineup of new products, particularly in AI. Similarly, Piper Sandler increased Snowflake's stock price target to $208, maintaining an Overweight rating due to the company's growth potential in AI, data engineering, and machine learning.
In other recent developments, Databricks announced a significant $10 billion Series J funding round, boosting the company's valuation to $62 billion. The funding will be used for investments in new AI products, strategic acquisitions, and expansion of international go-to-market strategies. Databricks anticipates surpassing $3 billion in annual recurring revenue and achieving positive free cash flow in the fourth quarter.
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