GTS Securities LLC Trims Stock Position in Snowflake Inc. (NYSE:SNOW)

GTS Securities LLC decreased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 91.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,621 shares of the company's stock after selling 16,959 shares during the period. GTS Securities LLC's holdings in Snowflake were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SNOW. Asset Dedication LLC boosted its holdings in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after acquiring an additional 59 shares during the period. Quarry LP lifted its position in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after purchasing an additional 59 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock worth $317,000 after purchasing an additional 65 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after purchasing an additional 69 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Snowflake by 21.8% in the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company's stock worth $64,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Snowflake from $200.00 to $210.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. Hsbc Global Res lowered shares of Snowflake from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Oppenheimer reiterated an "outperform" rating and issued a $225.00 price target (up previously from $210.00) on shares of Snowflake in a report on Thursday, May 22nd. Raymond James reissued an "outperform" rating and issued a $212.00 price objective (up previously from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.33.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 685 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the transaction, the executive vice president now directly owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Scarpelli sold 400,000 shares of Snowflake stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $205.36, for a total transaction of $82,144,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at approximately $60,090,389.60. The trade was a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 834,779 shares of company stock valued at $156,261,943 in the last ninety days. Company insiders own 6.80% of the company's stock.

Snowflake Stock Performance

Shares of Snowflake stock traded down $1.34 during midday trading on Tuesday, hitting $208.83. The company had a trading volume of 2,489,685 shares, compared to its average volume of 6,411,635. The company has a fifty day simple moving average of $164.64 and a 200 day simple moving average of $167.45. The stock has a market cap of $69.72 billion, a price-to-earnings ratio of -61.60 and a beta of 1.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $210.94.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.14 EPS. Snowflake's revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

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.