Monitor for subsequent Form 4 filings to confirm whether the sale was executed. A large affiliate sale of this magnitude could signal reduced insider conviction, especially given the stock's recent price level. Watch for any concurrent insider selling patterns or changes in company guidance.
Price Chart
Executive Summary
Michael L. Speiser, an affiliate of Snowflake Inc., filed a Form 144 notice on October 2, 2026, indicating intent to sell 50,741 shares of common stock, valued at approximately $17.45 million based on the filing date price of ~$346.60. The shares were acquired through private placements and pro-rata distributions from Sutter Hill Ventures dating back to 2012-2019. This is a significant insider sale notice from a long-standing affiliate, but the filing is an advance notice of intent, not a completed sale.
Key Facts
- Michael L. Speiser, an affiliate of Snowflake, filed Form 144 to sell 50,741 shares of common stock.
- The proposed sale value is approximately $17.45 million based on a ~$346.60 per share price on the filing date.
- Shares were acquired via private placements and pro-rata distributions from Sutter Hill Ventures between 2012 and 2019.
- The filing notes that 37,365 shares are held by trusts where Speiser is trustee, 403 from an IRA, and 12,973 from a limited partnership.
- This is an intent-to-sell notice; the sale may or may not be executed.
Financial Impact
Up to $17.45 million in potential insider selling, representing a notable but not dominant portion of the affiliate's holdings.
Risk Factors
- Insider selling may signal reduced confidence in near-term prospects.
- The sale is not yet executed; the insider may choose not to sell.
- Large affiliate sales can create overhang and pressure the stock price.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001973251-26-000039 |
| Document: 0001973251-26-000039-index.html | 0001973251-26-000039 |
| Document: 0001973251-26-000039.txt | 0001973251-26-000039 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | Insider Cluster | $325.01 | awaiting T+1 | — | $334.95 (+3.06%) |
Oct 20, 2026 6d ago | Institutional Cluster | $322.73 $313.96 | ▼ −2.72% | ▼ −1.54% | $334.95 (+3.79%) |
Oct 19, 2026 7d ago | 144 | $315.35 $319.61 | ▼ −1.35% | ▼ −1.02% | $334.95 (−6.22%) |
Oct 7, 2026 19d ago | 144 | $332.85 $343.40 | ▼ −3.17% | ▼ −3.59% | $334.95 (−0.63%) |
Oct 2, 2026 24d ago | Insider Cluster | $338.99 $335.95 | ▲ +0.90% | ▲ +1.45% | $334.95 (+1.19%) |
Oct 2, 2026 24d ago | 144 | $338.99 $335.95 | ▲ +0.90% | ▲ +1.45% | $334.95 (+1.19%) |
Oct 2, 2026 24d ago | 8-K | $338.99 $335.95 | ▼ −0.90% | ▼ −1.45% | $334.95 (−1.19%) |
Sep 24, 2026 4w ago | Insider Cluster | $335.94 $328.12 | ▲ +2.33% | ▲ +1.58% | $334.95 (+0.29%) |
Sep 22, 2026 4w ago | Insider Cluster | $334.81 $334.00 | ▼ −0.24% | ▼ −0.16% | $334.95 (+0.04%) |
Sep 21, 2026 5w ago | 144 | $339.39 $336.59 | ▲ +0.82% | ▲ +0.81% | $334.95 (+1.31%) |
US Market Status
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