Kestra Private Wealth Services LLC Purchases 1,969 Shares of Snowflake Inc. (NYSE:SNOW)

Kestra Private Wealth Services LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 38.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,048 shares of the company's stock after purchasing an additional 1,969 shares during the period. Kestra Private Wealth Services LLC's holdings in Snowflake were worth $1,030,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Snowflake during the fourth quarter worth approximately $988,950,000. FMR LLC boosted its position in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after purchasing an additional 15,314 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Snowflake by 124.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after buying an additional 2,200,406 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Snowflake by 406.5% during the fourth quarter. Invesco Ltd. now owns 2,441,112 shares of the company's stock valued at $376,932,000 after purchasing an additional 1,959,137 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of analyst reports. JMP Securities lifted their price objective on Snowflake from $245.00 to $260.00 and gave the company a "market outperform" rating in a report on Friday, July 18th. Barclays reiterated an "overweight" rating and set a $219.00 price objective (up previously from $203.00) on shares of Snowflake in a research note on Thursday, May 22nd. KeyCorp restated an "overweight" rating on shares of Snowflake in a research note on Wednesday, June 25th. HSBC lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird increased their target price on Snowflake from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.73.

Snowflake Price Performance

SNOW traded up $2.28 during trading on Thursday, reaching $214.84. 2,224,562 shares of the company traded hands, compared to its average volume of 3,248,868. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $226.60. The firm has a fifty day simple moving average of $210.36 and a 200 day simple moving average of $180.40. The company has a market cap of $71.73 billion, a P/E ratio of -51.03 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Mark Garrett sold 67,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $198.98, for a total value of $13,331,660.00. Following the sale, the director owned 7,428 shares of the company's stock, valued at $1,478,023.44. This trade represents a 90.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the transaction, the director directly owned 165,507 shares in the company, valued at approximately $36,303,960.45. This trade represents a 71.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,718,258 shares of company stock worth $589,762,906 in the last three months. 6.80% of the stock is owned by company insiders.

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.