Open-market sales are small relative to market cap and lack a 10b5-1 plan flag, but the absence of CEO/CFO selling and the trivial proportionality suggest no material negative signal. Monitor next 10-Q for any fundamental deterioration — this cluster alone does not warrant a bearish read.
Price Chart
Executive Summary
Five Snowflake insiders sold a total of ~$15M in open-market shares over a one-week window, with the largest sales from Director Frank Slootman ($8.5M) and CRO Jonathan Beaulier ($4.1M). All sales are open-market (code S) with no 10b5-1 plan indication, and the total represents ~0.05% of Snowflake's ~$100B market cap — well below the 0.1% materiality threshold. The cluster is dominated by sales, but the dollar amount is trivial relative to market cap, and no C-suite officer (CEO/CFO) sold open-market. The tax-withholding transactions (code F) on 9/21 are non-cash and carry no informational signal. This cluster is routine and non-alarming.
Key Financial Metrics
Key Facts
- 5 insiders sold ~$15M in open-market shares (code S) over 7 days
- Director Frank Slootman sold $8.5M (largest single sale)
- CRO Jonathan Beaulier sold $4.1M; EVP Kleinerman sold $951K; SVP Raghunathan sold $1.2M; CAO Ho sold $256K
- Total open-market sales represent ~0.05% of Snowflake's ~$100B market cap
- CEO Sridhar Ramaswamy did not sell open-market — only tax-withholding (code F) on 9/21
- No 10b5-1 plan indication on any sale
- Tax-withholding transactions (code F) on 9/21 from 5 insiders are non-cash and non-informative
Financial Impact
~$15M in open-market sales, ~0.05% of market cap
Risk Factors
- Insider selling could accelerate if fundamentals weaken, but current cluster is routine
- No C-suite open-market selling reduces risk of informed selling
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SNOW-1790144700680 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 2d ago | Insider Cluster | $325.01 | awaiting T+1 | — | $333.18 (+2.51%) |
Oct 20, 2026 5d ago | Institutional Cluster | $322.73 $313.96 | ▼ −2.72% | ▼ −1.54% | $333.18 (+3.24%) |
Oct 19, 2026 6d ago | 144 | $315.35 $319.61 | ▼ −1.35% | ▼ −1.02% | $333.18 (−5.65%) |
Oct 7, 2026 19d ago | 144 | $332.85 $343.40 | ▼ −3.17% | ▼ −3.59% | $333.18 (−0.10%) |
Oct 2, 2026 23d ago | Insider Cluster | $338.99 $335.95 | ▲ +0.90% | ▲ +1.45% | $333.18 (+1.71%) |
Oct 2, 2026 23d ago | 144 | $338.99 $335.95 | ▲ +0.90% | ▲ +1.45% | $333.18 (+1.71%) |
Oct 2, 2026 23d ago | 8-K | $338.99 $335.95 | ▼ −0.90% | ▼ −1.45% | $333.18 (−1.71%) |
Sep 24, 2026 4w ago | Insider Cluster | $335.94 $328.12 | ▲ +2.33% | ▲ +1.58% | $333.18 (+0.82%) |
Sep 22, 2026 4w ago | Insider Cluster | $334.81 $334.00 | ▼ −0.24% | ▼ −0.16% | $333.18 (−0.49%) |
Sep 21, 2026 4w ago | 144 | $339.39 $336.59 | ▲ +0.82% | ▲ +0.81% | $333.18 (+1.83%) |
US Market Status
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