Snowflake Drops to 96th in Trading Volume Ranking as Insider Sells $5.5 Million in Shares

On July 11, 2025, Snowflake (SNOW) experienced a significant decline, with its trading volume reaching $819 million, marking a 21.1% decrease from the previous day. This placed Snowflake at the 96th position in terms of trading volume for the day. The stock price dropped by 1.67%, extending its losing streak to four consecutive days, with a total decline of 6.62% over this period.

Snowflake's President of Products and Co-Founder, Benoit Dageville, executed a 10b5-1 trading plan on July 10, 2025, involving three transactions. He exercised options to acquire 25,000 shares at an exercise price of $0.74 and subsequently sold these shares at an average price of $221.83, generating proceeds of approximately $5.5 million. Additionally, he transferred 7,500 shares to The Snow Trust at no cost. Post-transaction, Dageville directly owns 58,325 common shares, with indirect holdings via several trusts totaling over 3.1 million shares, and additional positions of 750,000 shares each in two GRAT structures.

Analysts have noted that the sale was part of a pre-scheduled 10b5-1 plan, which reduces concerns about opportunistic insider trading. The transaction, while significant in terms of the amount sold, represents a small fraction of Dageville's total holdings, indicating continued alignment with shareholders. The exercise price of $0.74 versus the sale price of $221.83 highlights the low-cost legacy options still possessed by insiders, reflecting routine wealth diversification. Given Snowflake's large float of over 300 million shares, the disposal is considered immaterial to supply and demand dynamics. Overall, the impact on valuation sentiment is neutral, although consistent insider selling could weigh on perception if it continues.

Cantor Fitzgerald raised their price target on Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating. Additionally, UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and increased their target price for the company from $210.00 to $265.00. These positive analyst ratings suggest confidence in Snowflake's future performance, despite recent insider selling activities.