Wealth Alliance LLC Has $869,000 Position in Snowflake Inc. $SNOW

Wealth Alliance LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,882 shares of the company’s stock after selling 455 shares during the quarter. Wealth Alliance LLC’s holdings in Snowflake were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in SNOW. Vanguard Group Inc. lifted its stake in shares of Snowflake by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 27,194,208 shares of the company’s stock worth $3,974,705,000 after acquiring an additional 316,573 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Snowflake in the second quarter valued at about $3,900,134,000. Jennison Associates LLC increased its holdings 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 buying an additional 1,363,389 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Snowflake by 19.2% during 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. Finally, Nuveen LLC acquired a new stake in shares of Snowflake in the 1st quarter worth approximately $555,847,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW stock traded down $4.07 during midday trading on Thursday, reaching $265.75. 409,005 shares of the company’s stock traded hands, compared to its average volume of 5,148,053. Snowflake Inc. has a 1-year low of $120.10 and a 1-year high of $280.67. The company has a market cap of $90.04 billion, a price-to-earnings ratio of -63.88 and a beta of 1.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a 50-day simple moving average of $242.71 and a two-hundred day simple moving average of $217.47.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The company’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. On average, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. BTIG Research raised their price target on shares of Snowflake from $276.00 to $312.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group increased their target price on shares of Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Cowen reaffirmed a “buy” rating on shares of Snowflake in a research report on Thursday, August 28th. JMP Securities upped their target price on shares of Snowflake from $283.00 to $325.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 28th. Finally, Monness Crespi & Hardt raised their target price on shares of Snowflake from $245.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $259.89.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $257.29, for a total transaction of $103,687.87. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the company’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 sale, the executive vice president directly owned 522,450 shares of the company’s stock, valued at approximately $145,100,038.50. This represents a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 931,388 shares of company stock valued at $216,578,628 in the last quarter. Insiders own 6.80% of the company’s stock.

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.