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

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

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH purchased a new position in shares of Snowflake during the second quarter valued at $25,000. Avion Wealth grew its stake in Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares in the last quarter. Rossby Financial LCC lifted its holdings in Snowflake by 4,233.3% in the second quarter. Rossby Financial LCC now owns 130 shares of the company’s stock worth $29,000 after purchasing an additional 127 shares during the period. Whittier Trust Co. grew its position in Snowflake by 149.1% during the 2nd quarter. Whittier Trust Co. now owns 137 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Snowflake by 417.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 150 shares of the company’s stock valued at $34,000 after purchasing an additional 121 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Down 1.5%

Shares of SNOW traded down $4.07 during mid-day 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. 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 stock has a market cap of $90.04 billion, a P/E ratio of -63.88 and a beta of 1.23. The stock’s 50-day moving average is $242.71 and its two-hundred day moving average is $217.47. Snowflake Inc. has a 12 month low of $120.10 and a 12 month high of $280.67.

Snowflake (NYSE:SNOW) last released 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 net margin of 33.53% and a negative return on equity of 42.98%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. Research analysts forecast that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNOW. Needham & Company LLC lifted their price target on Snowflake from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, August 28th. UBS Group boosted their price objective on Snowflake from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Snowflake in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Snowflake from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $259.89.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $224.85, for a total value of $11,318,499.30. Following the completion of the sale, the director directly owned 35,276 shares of the company’s stock, valued at approximately $7,931,808.60. This represents a 58.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 710,083 shares of Snowflake stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the completion of the sale, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 931,388 shares of company stock worth $216,578,628. 6.80% of the stock is currently owned by company insiders.

Snowflake Company 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.