Snowflake Inc. $SNOW Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC reduced its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,797 shares of the company’s stock after selling 3,356 shares during the quarter. Kestra Advisory Services LLC’s holdings in Snowflake were worth $4,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $28,000. Greenline Wealth Management LLC purchased a new stake in Snowflake in the 4th quarter valued at approximately $29,000. GoalVest Advisory LLC lifted its stake in Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in Snowflake by 56.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in Snowflake during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SNOW. Loop Capital raised their price target on Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Rosenblatt Securities upped their price objective on Snowflake from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Citigroup increased their price objective on Snowflake from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Sanford C. Bernstein lifted their price objective on Snowflake from $195.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, May 28th. Finally, Cantor Fitzgerald boosted their target price on shares of Snowflake from $225.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $293.53.

Insider Buying and Selling

In related news, CAO Emily Ho sold 1,860 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $232.25, for a total value of $431,985.00. Following the sale, the chief accounting officer directly owned 41,283 shares of the company’s stock, valued at approximately $9,587,976.75. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 840 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $257.91, for a total transaction of $216,644.40. Following the completion of the sale, the director directly owned 26,876 shares in the company, valued at $6,931,589.16. This represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,802,015 shares of company stock worth $421,739,629 over the last ninety days. Insiders own 4.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $272.61 on Thursday. The stock has a market capitalization of $94.49 billion, a price-to-earnings ratio of -77.45 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.18. Snowflake Inc. has a 52-week low of $118.30 and a 52-week high of $284.99. The stock’s fifty day simple moving average is $222.78 and its 200-day simple moving average is $192.80.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities research analysts expect that Snowflake Inc. will post -1.84 EPS for the current year.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.