Frank Slootman, a director at Snowflake Inc. (NYSE: SNOW), executed a significant transaction on June 18, 2026, selling 200,000 shares of common stock valued at approximately $44.85 million. The sales were processed under a pre-arranged 10b5-1 trading plan established on September 19, 2025, following the exercise of fully vested stock options.
Mr. Slootman disposed of a total of 200,000 shares of Snowflake common stock, with prices ranging from $220.127 to $232.194 per share. The total value received from these sales amounted to $44,854,035. Prior to these sales, Mr. Slootman acquired 200,000 shares of common stock through the exercise of fully vested stock options at a price of $8.88 per share, totaling $1,776,000.
The sales come as Snowflake shares trade at $226.59, near the transaction prices. According to InvestingPro analysis, the stock appears overvalued relative to its Fair Value estimate, placing it among companies on the Most Overvalued list. The company maintains strong revenue growth of 31% over the last twelve months.
Following these transactions, Mr. Slootman directly holds 28,535 shares of Snowflake common stock, which includes shares to be issued in connection with the vesting of restricted stock units. Additionally, he holds shares indirectly through various trusts: 16,300 shares via the Slootman Grandchildren’s Trust, 78,893 shares through the Slootman 2023 Children’s Trust, 56,331 shares in the F. Slootman 2024 Grantor Retained Annuity Trust, and another 56,331 shares in the B. Slootman 2024 Grantor Retained Annuity Trust.
In other recent news, Snowflake Inc. has been the focus of several significant developments. UBS has reiterated its Buy rating on Snowflake, maintaining a price target of $370, citing the company’s AI revenue model as a key factor. Meanwhile, Truist Securities has raised its price target for Snowflake to $300 from $275, highlighting the momentum from AI-driven workload creation and expansion activities observed at the Snowflake Summit 2026. In a strategic partnership, Unlimitail has selected Snowflake to power its retail media network using Snowflake Data Clean Rooms technology, allowing retailers to utilize first-party data while maintaining control over their information.
Databricks, a competitor of Snowflake, has reported that its data warehousing business has reached a $1.5 billion annual run rate, driven by the demand for AI workloads. While Databricks has seen significant growth, its CEO, Ali Ghodsi, announced that the company will delay its initial public offering, citing unfavorable market conditions for tech offerings this year. These recent developments underscore the growing importance of AI in the data warehousing industry and Snowflake’s strategic moves to capitalize on this trend.