TECH - Snowflake Stock Is Heating Up After The Bell: Here's Why | Benzinga
Snowflake Inc (NYSE:SNOW) shares are heating up after the market close on Wednesday following insider buying from the company’s new CEO.
What Happened: In a new regulatory filing released Wednesday after the bell, newly appointed Snowflake CEO Sridhar Ramaswamy disclosed the purchase of 31,542 shares of the company’s stock. Ramaswamy bought the shares on Monday at an average price of $158.52. (Check out Benzinga’s Insider Trades page for more information.)
Last month, Snowflake announced former CEO Frank Slootman decided to retire from his role as CEO, but would remain with the company as chairman of the board. Ramaswamy was named CEO, effective immediately.
Ramaswamy previously led all of Alphabet Inc’s (NASDAQ:GOOG)(NASDAQ:GOOGL) Google advertising products, including search, ...