Snowflake Inc. $SNOW Holdings Trimmed by AE Wealth Management LLC

AE Wealth Management LLC reduced its position in shares of Snowflake Inc. (NYSE:SNOW) by 29.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,505 shares of the company’s stock after selling 617 shares during the period. AE Wealth Management LLC’s holdings in Snowflake were worth $337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in shares of Snowflake in the 2nd quarter worth approximately $3,900,134,000. Nuveen LLC bought a new stake in Snowflake during the first quarter worth approximately $555,847,000. AQR Capital Management LLC boosted its holdings in Snowflake by 346.2% during the first quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after buying an additional 2,460,769 shares in the last quarter. Jennison Associates LLC grew its position in Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after buying an additional 1,363,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after buying an additional 763,673 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, November 7th. The shares were sold at an average price of $257.29, for a total value of $103,687.87. Following the completion of the sale, the director owned 24,927 shares of the company’s stock, valued at approximately $6,413,467.83. The trade was a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $277.73, for a total transaction of $2,777,300.00. Following the completion of the sale, the executive vice president owned 522,450 shares of the company’s stock, valued at $145,100,038.50. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 931,388 shares of company stock valued at $216,578,628 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Snowflake Stock Performance

Shares of SNOW stock opened at $257.40 on Friday. Snowflake Inc. has a fifty-two week low of $120.10 and a fifty-two week high of $280.67. The stock’s 50-day moving average is $244.05 and its two-hundred day moving average is $218.84. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $87.21 billion, a P/E ratio of -62.02 and a beta of 1.23.

Snowflake (NYSE:SNOW) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. Analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, August 28th. Evercore ISI upped their price target on shares of Snowflake from $240.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Wedbush raised their price objective on shares of Snowflake from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Canaccord Genuity Group lifted their price objective on shares of Snowflake from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Finally, Cantor Fitzgerald boosted their target price on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $259.89.

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.