Benoit Dageville, Founder and Chief Architect at Snowflake Inc. (NASDAQ:SNOW), completed several transactions in March involving his holdings of the companys common stock. According to a Form 4 filing with the Securities and Exchange Commission, Dageville sold 874 shares on March 23 at $170.01 per share, generating approximately $148,588.
The filing also shows that on March 20 Dageville disposed of 598 and 287 shares to satisfy tax obligations at $175.40 per share, for a combined value of $155,229. The same March 20 filings indicate he acquired 14,239 shares of common stock with a reported value of $0 on that date.
After these moves, Dageville is recorded as directly owning 65,742 shares of Snowflake common stock. He additionally holds indirect interests through several trusts: 750,000 shares via The Selene GRAT No. 1, 3,001,555 shares through The Snow Trust UTA, and his spouse indirectly holds 750,000 shares through The Thira GRAT No. 1.
The companys market value is listed at $55.7 billion. Snowflake remains unprofitable, while revenue has increased 29% over the last twelve months. Analysis from InvestingPro cited in the filing indicates the stock appears undervalued at current levels. The filing also notes that the sale was executed under a pre-arranged 10b5-1 trading plan adopted on March 28, 2025.
On the operating front, Snowflake reported $1.23 billion in product revenue for the quarter, a 30% year-over-year increase that exceeded the high end of guidance by $27 million. The companys remaining performance obligations rose to $9.77 billion, a 42% increase, which the company says was bolstered by a notable $400 million agreement with a financial services firm.
Analysts have taken differing stances on Snowflakes valuation and prospects. Macquarie lowered its price target to $177 and maintained a Neutral rating, citing valuation concerns. TD Cowen trimmed its target to $255 but kept a Buy rating, noting the company's 30% growth in the fourth quarter. Stifel and BofA Securities both reiterated Buy ratings, highlighting product expansion and development of Snowflake's AI platform. Barclays maintained an Equalweight rating with a $192 price target and also acknowledged the AI platform launch.
Snowflake has placed its new AI initiative, Project SnowWork, into a limited preview. The company describes the platform as intended to improve productivity for business users. The limited-preview status indicates the product is not yet broadly available.
While the Form 4 documents the share disposals and acquisitions, and the company released quarterly revenue details and guidance beats, some questions noted in the filings remain constrained to the facts presented: the timing, the scale of indirect holdings through trusts, the recent analyst adjustments to price targets, and the early-stage status of Project SnowWork.