Benoit Dageville, the President of Products at Snowflake Inc . (NYSE:SNOW), executed a series of transactions on December 12, according to a recent SEC filing. Dageville sold 6,250 shares of Snowflake's Class A Common Stock at a price of $169.60 per share, amounting to a total of approximately $1.06 million. The transaction comes as Snowflake, currently valued at $55.2 billion, has shown strong momentum with a 31.8% price return over the past six months. According to InvestingPro data, 33 analysts have recently revised their earnings estimates upward for the upcoming period.
Additionally, the filing noted that Dageville exercised stock options to acquire 6,250 shares at a price of $0.74 per share. The transactions were conducted under a pre-established 10b5-1 trading plan. With InvestingPro showing 12 key insights about Snowflake's valuation and growth prospects, investors can access comprehensive analysis through the Pro Research Report. Following these transactions, Dageville holds 52,142 shares directly and 4,819,180 shares indirectly through a trust.
In other recent news, Snowflake Inc. has been the focus of several financial firms. Baird increased its price target for Snowflake to $200, while maintaining an Outperform rating. The firm's analysts cited Snowflake's robust growth trajectory, including a 30.28% revenue growth and a 67.33% gross profit margin in the last twelve months. In similar developments, KeyBanc Capital Markets raised its price target for Snowflake to $210, reflecting the company's strong revenue growth. Wedbush upgraded Snowflake's stock rating from Neutral to Outperform, setting a new price target at $190.00. Citi maintained a Buy rating on Snowflake's stock, increasing its price target to $225.00, after what the firm describes as a "redemption quarter" for the company.
Piper Sandler analysts released insights on the tech sector shares following the 2025 CIO Survey, revealing a strong outlook for IT spending. The shift towards Generative AI and heightened cloud spending intentions mark a dynamic year ahead for tech companies. Snowflake received an Overweight rating, with data warehouse spending priorities jumping year-over-year to 77%.
Microsoft Corporation (NASDAQ:MSFT) reported a 16% year-on-year increase in Q1 FY2025 revenue, reaching $65.6 billion. Analyst firms such as TD Cowen, Citi, Mizuho (NYSE:MFG), and Goldman Sachs (NYSE:GS) have maintained their positive ratings on Microsoft's stock. In the healthcare sector, Microsoft has partnered with Tevogen Bio to expedite the target identification process for their oncology product, TVGN 920, using AI and cloud technologies.
These recent developments highlight the robust demand for tech solutions, with cloud applications and generative AI poised for significant growth.
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