Michael L. Speiser, a director at Snowflake Inc. (NYSE: SNOW), sold 50,387 shares of the company’s common stock on February 6, 2026, receiving a total of $8.38 million. The trades were executed across multiple transactions at prices that ranged from $165.04 to $165.645 per share.
The sales were broken into a number of discrete lots. The transaction breakdown shows sales of 121 shares at a weighted average price of $165.645; 282 shares at $165.04; 3,936 shares at $165.645; 9,037 shares at $165.04; 255 shares at $165.645; 585 shares at $165.04; 255 shares at $165.645; 585 shares at $165.04; 255 shares at $165.645; 585 shares at $165.04; 10,317 shares at $165.645; and 23,688 shares at $165.04.
After these dispositions, Speiser retains direct ownership of 24,000 Snowflake shares. In addition, he holds an indirect stake of 1,891,166 shares through vehicles and arrangements that include a limited partnership, trusts, Sutter Hill Ventures and SHM Investments, LLC. The sales were made pursuant to a pre-arranged Rule 10b5-1 trading plan that Speiser adopted on December 27, 2024.
Snowflake’s corporate activity and customer announcements in recent developments were disclosed alongside the filing on insider trading. The company confirmed a $200 million partnership with OpenAI to embed OpenAI’s models directly into Snowflake’s platform for enterprise customers. As part of that collaboration, OpenAI models such as GPT-5.2 will be available natively to Snowflake’s installed base of 12,600 global customers.
In a separate customer deployment, United Rentals has rolled out a Business Intelligence Agent built on Snowflake technology across its network of more than 1,600 branches. The implementation enables real-time insights accessible through natural language queries, according to the company disclosure.
Snowflake has also completed its acquisition of Observe, Inc. That transaction was followed by the resignation of Jeremy Burton from Snowflake’s board of directors, a corporate governance change noted in recent disclosures.
On the analyst front, Jefferies has reiterated its Buy rating on Snowflake and kept a $300 price target. The firm cited strong AI tailwinds and product catalysts, including Snowflake Intelligence, as drivers supporting its view. Jefferies also highlighted improving sales productivity and the expansion of partnerships as favorable factors for the company.
Taken together, these items paint a picture of Snowflake pursuing AI-enabled product expansion and broader market engagement while a director executed a scheduled sale of equity under a pre-established trading plan. The company’s announcements emphasize efforts to integrate AI capabilities, scale enterprise deployments and manage the integration of acquisitions and governance changes.