The filing is a routine insider sale by a board member exercising a pre-arranged plan or periodic liquidity. Given the small size relative to market cap and consistent pattern, no material price impact is expected. Monitor for any accelerated selling or changes in insider patterns that could indicate a shift in sentiment.
Price Chart
Executive Summary
Director Michael Speiser filed a Form 144 to sell 50,741 shares of Snowflake Inc. with an estimated value of $13.1 million. This is part of a recurring selling program; Speiser previously sold similar amounts in May and June 2026. The sale amount is de minimis relative to Snowflake's $90.2B market cap and does not change the fundamental outlook.
Key Facts
- Michael Speiser, an affiliate of Snowflake Inc., filed Form 144 to sell 50,741 shares of common stock.
- Estimated market value of proposed sale: $13,086,427.
- Shares to be sold were acquired via private placements and pro-rata distributions from venture funds (Sutter Hill Ventures) between 2012 and 2019.
- Speiser has sold comparable amounts in prior months: 50,741 shares on June 5, 2026 ($12.44M) and 50,741 shares on May 1, 2026 ($7.18M).
- The sale represents approximately 0.0145% of Snowflake's $90.2B market cap.
Financial Impact
$13.1 million insider sale by an affiliate, immaterial relative to total market cap of $90.2B
Risk Factors
- Continued insider selling by board members may signal lack of confidence in near-term valuation if accelerated.
- Cumulative selling by insiders over time could weigh on stock sentiment despite strong analyst consensus.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001973251-26-000027 |
| Document: 0001973251-26-000027-index.html | 0001973251-26-000027 |
| Document: 0001973251-26-000027.txt | 0001973251-26-000027 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 15d ago | 144 | $331.02 $334.81 | ▼ −1.14% | ▲ +0.68% | $341.99 (−3.31%) |
Sep 11, 2026 21d ago | Insider Cluster | $328.99 $332.43 | ▲ +1.05% | ▲ +1.27% | $341.99 (+3.95%) |
Sep 9, 2026 22d ago | Insider Cluster | $329.72 $338.39 | ▲ +2.63% | ▲ +3.13% | $341.99 (+3.72%) |
Sep 9, 2026 22d ago | Insider Cluster | $329.72 $338.39 | ▲ +2.63% | ▲ +3.13% | $341.99 (+3.72%) |
Sep 9, 2026 22d ago | Insider Cluster | $329.72 $338.39 | ▲ +2.63% | ▲ +3.13% | $341.99 (+3.72%) |
Sep 4, 2026 27d ago | 144 | $337.18 $332.35 | ▲ +1.43% | ▲ +0.22% | $341.99 (−1.43%) |
Sep 4, 2026 27d ago | 144 | $337.18 $332.35 | ▼ −1.43% | ▼ −0.22% | $341.99 (+1.43%) |
Sep 3, 2026 28d ago | Insider Cluster | $337.18 $332.35 | ▼ −1.43% | ▼ −0.22% | $341.99 (+1.43%) |
Sep 2, 2026 29d ago | 8-K | $356.47 $328.99 | ▼ −7.71% | ▼ −6.56% | $341.99 (−4.06%) |
Aug 28, 2026 4w ago | Insider Cluster | $331.43 $335.50 | ▲ +1.23% | ▲ +1.37% | $341.99 (+3.19%) |
US Market Status
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