Bulltick Wealth Management LLC Sells 27,000 Shares of Snowflake Inc. (NYSE:SNOW)

Bulltick Wealth Management LLC lessened its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 44.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,075 shares of the company's stock after selling 27,000 shares during the quarter. Snowflake accounts for approximately 1.2% of Bulltick Wealth Management LLC's holdings, making the stock its 18th biggest holding. Bulltick Wealth Management LLC's holdings in Snowflake were worth $5,262,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Snowflake during the 4th quarter worth approximately $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake in the fourth quarter worth about $750,572,000. Jennison Associates LLC increased its holdings in shares of Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. FMR LLC raised its position in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock valued at $612,817,000 after buying an additional 2,200,406 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Piper Sandler dropped their price objective on Snowflake from $215.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Bank of America increased their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Evercore ISI increased their price target on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Oppenheimer lifted their price objective on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Finally, Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $200.28.

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $168.01, for a total transaction of $67,708.03. Following the sale, the director now directly owns 25,972 shares in the company, valued at approximately $4,363,555.72. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock valued at $58,204,058 over the last three months. 7.80% of the stock is owned by insiders.

Snowflake Price Performance

Snowflake stock traded up $0.17 during trading hours on Friday, reaching $174.14. 2,594,446 shares of the stock were exchanged, compared to its average volume of 6,374,513. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a market cap of $57.48 billion, a P/E ratio of -51.37 and a beta of 1.11. The stock has a 50 day moving average of $153.28 and a two-hundred day moving average of $158.36.

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.