Kestra Private Wealth Services LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

Kestra Private Wealth Services LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,397 shares of the company’s stock, valued at approximately $278,000.

Several other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in Snowflake during the 4th quarter worth $790,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock valued at $927,000 after purchasing an additional 3,152 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Snowflake during the 3rd quarter valued at about $458,000. Glynn Capital Management LLC grew its position in shares of Snowflake by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 188,428 shares of the company’s stock valued at $28,786,000 after purchasing an additional 5,629 shares during the period. Finally, Raymond James & Associates increased its stake in Snowflake by 55.9% during the 4th quarter. Raymond James & Associates now owns 295,486 shares of the company’s stock worth $58,802,000 after purchasing an additional 105,937 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Performance

Shares of Snowflake stock opened at $157.72 on Thursday. The firm has a 50-day moving average of $160.35 and a 200-day moving average of $179.27. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The stock has a market cap of $52.71 billion, a PE ratio of -61.87 and a beta of 0.90.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. The firm had revenue of $774.70 million during the quarter, compared to the consensus estimate of $759.86 million. Equities research analysts predict that Snowflake Inc. will post -1.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction on Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snowflake news, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the transaction, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the sale, the executive now directly owns 354,954 shares of the company’s stock, valued at approximately $55,571,598.24. The disclosure for this sale can be found here. Insiders have sold 72,380 shares of company stock valued at $12,206,900 over the last 90 days. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SNOW shares. Bank of America lowered their price objective on shares of Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Barclays dropped their price target on Snowflake from $198.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Citigroup dropped their target price on Snowflake from $290.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Finally, Stifel Nicolaus reduced their price target on Snowflake from $235.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.77.

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.