This is a routine Form 144 filing by a co-founder who has been selling similar-sized blocks on a regular schedule. The sale represents a small fraction of market cap and is not unusual for a pre-IPO insider. No material read-through for the stock — monitor for any acceleration in selling pattern or unexpected large filings.
Price Chart
Executive Summary
Snowflake co-founder and board member Michael Speiser filed a Form 144 notice of intent to sell 50,741 shares of common stock, with an approximate market value of $12.4 million based on the filing date. The shares were acquired through private placements and a venture fund distribution between 2012 and 2016. This is a routine insider sale by a co-founder who has been selling shares periodically, and the filing itself is merely an advance notice of intent to sell.
Key Facts
- Michael Speiser (co-founder, board member) filed Form 144 to sell 50,741 shares of Snowflake common stock
- Estimated sale value: approximately $12.4 million based on filing date market price
- Shares acquired via private placements and venture fund distribution from 2012-2016
- Of the total, 37,365 shares were sold by trusts where Speiser is trustee, 403 from his IRA, and 12,973 from a limited partnership
- Filing date: June 5, 2026; prior sales noted on April 6, 2026 (50,741 shares) and May 1, 2026 (50,741 shares)
Financial Impact
Approximately $12.4 million in planned insider sales, representing about 0.015% of Snowflake's $84.6B market cap
Risk Factors
- Insider selling by co-founders can signal reduced conviction, though this appears to be a routine diversification sale
- If Speiser accelerates selling frequency or volume beyond the current pattern, it could indicate a negative view
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001973251-26-000022 |
| Document: 0001973251-26-000022-index.html | 0001973251-26-000022 |
| Document: 0001973251-26-000022.txt | 0001973251-26-000022 |
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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