Bulltick Wealth Management LLC Makes New $3.54 Million Investment in Snowflake Inc. (NYSE:SNOW)

Bulltick Wealth Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,211 shares of the company’s stock, valued at approximately $3,541,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SNOW. Accent Capital Management LLC purchased a new position in shares of Snowflake in the fourth quarter valued at $25,000. LRI Investments LLC raised its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake in the second quarter valued at about $27,000. Riverview Trust Co acquired a new stake in shares of Snowflake in the first quarter valued at approximately $31,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Snowflake in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America reduced their target price on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Mizuho reduced their price objective on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Macquarie cut their target price on shares of Snowflake from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. TD Cowen decreased their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, Canaccord Genuity Group cut their price objective on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $176.03.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Snowflake news, Director Teresa Briggs sold 848 shares of Snowflake stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now owns 4,247 shares of the company’s stock, valued at $607,236.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. The disclosure for this sale can be found here. Insiders have sold a total of 517,203 shares of company stock valued at $63,833,373 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Snowflake Trading Down 3.3 %

Shares of SNOW stock opened at $110.26 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a market capitalization of $36.96 billion, a PE ratio of -39.38 and a beta of 0.83. The firm has a fifty day simple moving average of $120.87 and a 200-day simple moving average of $139.56.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 period last year, the firm earned ($0.52) earnings per share. The company’s revenue was up 28.9% on a year-over-year basis. Equities research analysts predict that Snowflake Inc. will post -2.42 EPS for the current year.

Snowflake Profile

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.