Kestra Private Wealth Services LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Kestra Private Wealth Services LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW) by 53.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,079 shares of the company’s stock after purchasing an additional 1,769 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Snowflake were worth $784,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Groupama Asset Managment purchased a new stake in shares of Snowflake during the third quarter valued at about $25,000. V Square Quantitative Management LLC acquired a new stake in Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the third quarter worth $34,000. Perkins Coie Trust Co lifted its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake in the 4th quarter worth $38,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

NYSE:SNOW opened at $187.86 on Friday. The firm has a market cap of $62.01 billion, a P/E ratio of -55.42 and a beta of 1.07. The stock has a 50 day moving average of $171.43 and a two-hundred day moving average of $141.17. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $236.33. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

SNOW has been the topic of several recent analyst reports. Loop Capital upped their target price on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Jefferies Financial Group upped their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Friday, January 10th. Cantor Fitzgerald assumed coverage on shares of Snowflake in a report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target for the company. Finally, Scotiabank boosted their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $187.63.

Insider Buying and Selling

In other news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is owned by corporate 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.