Kestra Advisory Services LLC Acquires 1,929 Shares of Snowflake Inc. $SNOW

Key Points

• Kestra Advisory Services LLC has increased its holdings in Snowflake Inc. by 7.3%, acquiring an additional 1,929 shares, bringing their total ownership to 28,262 shares valued at approximately $4.13 million.
• Goldman Sachs Group Inc. significantly boosted its position in Snowflake by 22.2%, owning now over 3.58 million shares worth around $524 million.
• While several analysts maintain a positive outlook with multiple buy ratings, HSBC has downgraded its rating to sell, indicating mixed sentiment in the market for Snowflake's stock.

Kestra Advisory Services LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,262 shares of the company's stock after purchasing an additional 1,929 shares during the quarter. Kestra Advisory Services LLC's holdings in Snowflake were worth $4,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company's stock worth $524,293,000 after purchasing an additional 650,775 shares during the last quarter. CenterBook Partners LP purchased a new position in Snowflake in the first quarter worth about $2,381,000. Berkshire Capital Holdings Inc. boosted its position in Snowflake by 71,500.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company's stock worth $1,047,000 after purchasing an additional 7,150 shares during the last quarter. Lyell Wealth Management LP boosted its position in Snowflake by 5.1% in the first quarter. Lyell Wealth Management LP now owns 60,685 shares of the company's stock worth $8,870,000 after purchasing an additional 2,955 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Snowflake in the first quarter worth about $898,000. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the topic of several research reports. Stephens initiated coverage on Snowflake in a research report on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price on the stock. UBS Group dropped their target price on Snowflake from $265.00 to $250.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Stifel Nicolaus raised their target price on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird raised their target price on Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, HSBC cut Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and a consensus target price of $230.22.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 256,046 shares of Snowflake stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $227.15, for a total transaction of $58,160,848.90. Following the sale, the director owned 165,507 shares of the company's stock, valued at approximately $37,594,915.05. This trade represents a 60.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the sale, the director directly owned 4,474 shares in the company, valued at $974,168.76. This trade represents a 20.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,516,826 shares of company stock worth $555,691,052 over the last quarter. Company insiders own 6.80% of the company's stock.

Snowflake Stock Down 0.0%

Shares of SNOW opened at $194.63 on Wednesday. The business's 50 day moving average is $210.53 and its 200 day moving average is $185.04. The company has a market capitalization of $64.98 billion, a PE ratio of -46.23 and a beta of 1.22. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

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.

Want to see what other hedge funds are holding SNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snowflake Inc. (NYSE:SNOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.