Monitor for actual execution of this sale on Form 4 filings. The concentrated selling by a venture-backer affiliate, combined with recent elevated insider sales, suggests ongoing distribution by early investors. Traders should watch for further insider filings and any lock-up expiration events.
Price Chart
Executive Summary
Michael L. Speiser, an affiliate of Snowflake Inc., filed a Form 144 on September 4, 2026, signaling intent to sell 50,741 shares of common stock with an approximate market value of $17.96 million. This is a large, concentrated sale by a venture-affiliated insider, representing a notable increase in selling pressure from an early investor. The filing follows a period of elevated insider selling ($37.8M over 30 days) and suggests continued monetization by pre-IPO shareholders.
Key Facts
- Michael L. Speiser filed a Form 144 to sell 50,741 shares of Snowflake common stock.
- The approximate market value of the proposed sale is $17.96 million.
- The shares were acquired through venture fund distributions and private placements dating back to 2012.
- The filing notes that 37,365 shares were sold by trusts where Speiser is a trustee, 403 from an IRA, and 12,973 from a limited partnership.
- This filing follows $37.8M in insider sales over the prior 30 days.
Financial Impact
Proposed sale of 50,741 shares valued at approximately $17.96 million, representing a small fraction of the $123.6B market cap but a material signal from a venture-affiliated insider.
Risk Factors
- Continued insider selling pressure from pre-IPO shareholders.
- Potential negative sentiment signal from a large affiliate sale.
- The sale may not be executed, but the intent filing itself is a bearish signal.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (SNOW) — Batch item 1 | 0001973251-26-000034 |
| Document: 0001973251-26-000034-index.html | 0001973251-26-000034 |
| Document: 0001973251-26-000034.txt | 0001973251-26-000034 |
| 144 Filing (SNOW) — Batch item 4 | 0001973251-26-000034 |
| Document: 0001973251-26-000034-index.html | 0001973251-26-000034 |
| Document: 0001973251-26-000034.txt | 0001973251-26-000034 |
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
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access