The cluster is dominated by routine tax-withholding transactions and a single director open-market sale. Director Dageville's sale is notable in absolute dollars but trivial relative to Snowflake's market cap. The strong Q2 earnings report 8 days prior makes this look like opportunistic selling by a director after a positive catalyst, not a signal of distress. Monitor for any additional open-market sales by C-suite executives in the next 30 days.
Price Chart
Executive Summary
Snowflake director Benoit Dageville sold $16.8M in open-market shares on Sep 9, 2026, just 1 day after a cluster of tax-withholding transactions by the CEO, CRO, and other executives on Sep 8. The open-market sale by a director is notable, but the total $17.7M in sales represents ~0.01% of Snowflake's ~$100B market cap, making it trivial relative to company size. The cluster is dominated by non-informative tax-withholding (F) transactions and a single director open-market sale, which lacks the predictive power of a C-suite open-market sale.
Key Financial Metrics
Key Facts
- Director Benoit Dageville sold 50,000 shares in open market for $16.8M on Sep 9, 2026
- CEO Sridhar Ramaswamy surrendered 4,515 shares for tax withholding ($1.52M) on Sep 8
- CRO Jonathan Beaulier surrendered 827 shares for tax withholding ($279K) on Sep 8
- All other insider transactions were tax-withholding (code F) — non-cash, non-informative
- Total cluster value of $17.7M is ~0.01% of Snowflake's market cap
- Cluster follows strong Q2 earnings (Aug 30) with product revenue +37% YoY and raised guidance
Financial Impact
Director open-market sale of $16.8M, but only ~0.01% of market cap — immaterial
Risk Factors
- Director Dageville may continue selling shares, signaling lack of confidence
- Insider selling after strong earnings could indicate peak valuation concerns
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SNOW-1789605329148 |
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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