Snowflake Insider Activity Highlights a Strategic Shift
On February 2 2026, Michael L. Speiser executed a sizable purchase of 790,158 shares of Snowflake common stock as part of the company’s acquisition of Observe, Inc. The buy‑in came at an intraday price of $165.17—just 0.05 % below the closing price of $173.24—indicating a willingness to take a short‑term discount while positioning for long‑term upside. In a market that has seen the stock slide 23.48 % over the week and 26.33 % over the month, this move signals that insiders still believe in Snowflake’s trajectory, particularly in light of its new AI partnership with OpenAI and the rollout of Cortex Code.
Implications for Investors and the Company’s Future
The transaction adds liquidity to the pool of shares held by a trusted investor who has a history of active trading. Speiser’s recent sales in December 2025—spanning more than 20 separate transactions totalling roughly 1.4 million shares—were executed at prices ranging from $217 to $257. The shift from selling to buying within two months suggests a change in outlook: either a rebound in the stock’s valuation or confidence in Snowflake’s AI roadmap. For shareholders, the buy may be interpreted as a bullish signal, potentially supporting the stock after the modest dip following the AI announcement. However, the high trading volume and the 908 % buzz on social media reflect heightened investor scrutiny; a sudden change in sentiment could quickly erode the gains from the buy.
A Profile of Michael L. Speiser
Speiser is a seasoned investor who frequently trades Snowflake shares through trusts and limited partnerships, often holding a minority stake that he defers to a trust’s beneficiaries. His December 2025 activity shows a pattern of selling in the $230–$260 range, likely taking profits as the stock hovered near its 52‑week high of $280.67. The jump to a purchase in February 2026 suggests either a re‑entry strategy or a conviction that the AI initiatives will generate sustainable earnings, especially given the company’s negative P/E ratio of –44.41, which signals a high valuation relative to earnings. Speiser’s holding of 492,958 shares and several smaller positions (31,916 shares each in multiple trusts) gives him a modest voting influence, but his trading volume indicates a willingness to act on strategic moves.
Conclusion
Insider activity that oscillates between selling and buying often signals a nuanced view of a company’s prospects. Speiser’s recent purchase, combined with the broader context of Snowflake’s AI expansion, hints at confidence that the platform’s new features will drive future revenue growth. Investors should watch for subsequent trades and the company’s earnings guidance, as any reversal in sentiment—especially given the volatile social‑media buzz—could materially affect the share price.
| Date | Owner | Transaction Type | Shares | Price per Share | Security |
|---|---|---|---|---|---|
| 2026-02-02 | Speiser Michael L () | Buy | 790,158.00 | 0.00 | Common Stock |
| 2026-02-02 | Speiser Michael L () | Buy | 2,288.00 | 0.00 | Common Stock |
| 2026-02-02 | Speiser Michael L () | Buy | 77,119.00 | 0.00 | Common Stock |
| 2026-02-02 | Speiser Michael L () | Buy | 2,500.00 | 0.00 | Common Stock |
| 2026-02-02 | Speiser Michael L () | Buy | 402.00 | 0.00 | Common Stock |
| N/A | Speiser Michael L () | Holding | 492,958.00 | N/A | Common Stock |
| N/A | Speiser Michael L () | Holding | 31,916.00 | N/A | Common Stock |
| N/A | Speiser Michael L () | Holding | 31,916.00 | N/A | Common Stock |
| N/A | Speiser Michael L () | Holding | 31,916.00 | N/A | Common Stock |
| N/A | Speiser Michael L () | Holding | 31,916.00 | N/A | Common Stock |
| N/A | Speiser Michael L () | Holding | 24,121.00 | N/A | Common Stock |
