Bulltick Wealth Management LLC Sells 8,020 Shares of Snowflake Inc. $SNOW

Bulltick Wealth Management LLC trimmed its position in Snowflake Inc. (NYSE:SNOW) by 47.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,043 shares of the company’s stock after selling 8,020 shares during the quarter. Bulltick Wealth Management LLC’s holdings in Snowflake were worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission.

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

Snowflake Stock Performance

Snowflake stock opened at $257.40 on Monday. The firm has a market capitalization of $87.21 billion, a P/E ratio of -62.02 and a beta of 1.23. The stock has a fifty day moving average price of $244.05 and a two-hundred day moving average price of $219.26. Snowflake Inc. has a 52-week low of $120.10 and a 52-week high of $280.67. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.48 and a quick ratio of 1.48.

Snowflake (NYSE:SNOW) last issued its 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. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 EPS. As a group, analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. JMP Securities upped their price target on Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Piper Sandler upped their target price on shares of Snowflake from $215.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Sanford C. Bernstein increased their price target on shares of Snowflake from $191.00 to $221.00 and gave the company a “market perform” rating in a report on Thursday, August 28th. Royal Bank Of Canada boosted their price objective on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Finally, Cantor Fitzgerald upped their price objective on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $259.89.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were 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 approximately $145,100,038.50. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.29, for a total value of $103,687.87. Following the completion of the transaction, the director directly owned 24,927 shares in the company, valued at $6,413,467.83. The trade was a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 931,388 shares of company stock valued at $216,578,628. 6.80% of the stock is currently owned by insiders.

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.