Snowflake Inc. (NYSE:SNOW) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its holdings in Snowflake Inc. (NYSE:SNOW) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,296 shares of the company’s stock after selling 250 shares during the quarter. Wealth Alliance’s holdings in Snowflake were worth $310,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Accent Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter worth $25,000. LRI Investments LLC purchased a new position in Snowflake during the first quarter worth about $29,000. FinTrust Capital Advisors LLC raised its stake in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares during the period. Riverview Trust Co acquired a new position in Snowflake in the 1st quarter valued at about $31,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Snowflake in the 1st quarter valued at approximately $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Trading Up 2.9 %

Shares of SNOW opened at $114.00 on Friday. The firm has a market capitalization of $38.21 billion, a PE ratio of -40.71 and a beta of 0.83. The stock’s 50 day moving average is $121.87 and its two-hundred day moving average is $140.21. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter last year, the company earned ($0.52) earnings per share. Snowflake’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts predict that Snowflake Inc. will post -2.42 EPS for the current year.

Wall Street Analyst Weigh In

SNOW has been the topic of several research analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a report on Monday, July 1st. Mizuho cut their price objective on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Needham & Company LLC reduced their price target on shares of Snowflake from $210.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. JPMorgan Chase & Co. raised their price objective on shares of Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, Citigroup cut their target price on shares of Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $176.03.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares in the company, valued at $83,511,651.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the transaction, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The disclosure for this sale can be found here. Insiders sold 517,203 shares of company stock worth $63,833,373 over the last 90 days. Company insiders own 7.80% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.