Snowflake Inc. $SNOW is Fullcircle Wealth LLC’s 5th Largest Position

Fullcircle Wealth LLC decreased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 23.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,802 shares of the company’s stock after selling 9,333 shares during the period. Snowflake makes up approximately 2.3% of Fullcircle Wealth LLC’s holdings, making the stock its 5th largest position. Fullcircle Wealth LLC’s holdings in Snowflake were worth $6,213,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Advantage Inc. lifted its position in Snowflake by 1.1% during the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock worth $987,000 after acquiring an additional 48 shares during the period. Avion Wealth raised its stake in shares of Snowflake by 76.6% during the second quarter. Avion Wealth now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Snowflake by 2.3% during the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after purchasing an additional 64 shares during the period. Koshinski Asset Management Inc. grew its position in Snowflake by 4.2% in the 2nd quarter. Koshinski Asset Management Inc. now owns 1,604 shares of the company’s stock valued at $359,000 after buying an additional 64 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Snowflake by 8.9% in the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock valued at $122,000 after buying an additional 68 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

SNOW has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on shares of Snowflake from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. DA Davidson restated a “buy” rating and issued a $250.00 price objective on shares of Snowflake in a research report on Monday, August 25th. The Goldman Sachs Group boosted their target price on Snowflake from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. KeyCorp increased their target price on Snowflake from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Cantor Fitzgerald lifted their price target on Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $258.95.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the completion of the transaction, the executive vice president owned 527,336 shares of the company’s stock, valued at $123,132,956. The trade was a 1.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was 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 $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 865,647 shares of company stock worth $199,370,673. Corporate insiders own 6.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $277.08 on Tuesday. The firm has a 50 day moving average of $236.88 and a 200-day moving average of $212.08. Snowflake Inc. has a 12-month low of $113.23 and a 12-month high of $280.67. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The company has a market cap of $93.87 billion, a price-to-earnings ratio of -66.77 and a beta of 1.23.

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

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.