The cluster is dominated by Director Slootman's large open-market sales, which are not part of a 10b5-1 plan (no plan indicated). While the dollar amount is modest relative to market cap, the lack of any insider buying and the concentration in a single director's sales suggest a potential negative view on valuation. Monitor for any subsequent 8-K or earnings pre-announcement that could explain the timing.
Price Chart
Executive Summary
A cluster of insider selling at Snowflake, led by Director Frank Slootman's open-market sales totaling ~$22.6M, occurred alongside routine tax-withholding transactions by the CEO and other officers. The selling is concentrated in open-market sales by a director and an EVP, with no corresponding insider purchases, signaling potential caution at current valuation levels.
Key Financial Metrics
Key Facts
- Director Frank Slootman sold ~67,484 shares in open-market transactions totaling ~$22.6M on September 21, 2026.
- EVP Christian Kleinerman sold 2,622 shares for ~$903K on September 22, 2026.
- CEO Sridhar Ramaswamy and other officers had tax-withholding transactions (code F) totaling ~$1.6M, which are non-discretionary.
- Total open-market selling by insiders (excluding tax withholdings) is ~$23.5M.
- No insider open-market purchases were reported in the cluster.
Financial Impact
~$23.5M in open-market insider sales over a 7-day window; Snowflake's market cap is ~$110B, representing ~0.02% of market cap — below the 0.1% proportionality threshold for materiality.
Risk Factors
- Insider selling may signal management's view that shares are overvalued.
- No insider buying to counterbalance the selling could weigh on sentiment.
- Tax-withholding transactions are routine and not indicative of bearish sentiment.
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SNOW-1790318129987 |
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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