Kovack Advisors Inc. Lowers Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Kovack Advisors Inc. decreased its holdings in Snowflake Inc. (NYSE:SNOW) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,269 shares of the company’s stock after selling 410 shares during the quarter. Kovack Advisors Inc.’s holdings in Snowflake were worth $690,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SNOW. Accent Capital Management LLC acquired a new stake in Snowflake during the 4th quarter worth $25,000. Riverview Trust Co acquired a new position in Snowflake during the first quarter worth $31,000. Future Financial Wealth Managment LLC purchased a new position in Snowflake in the first quarter worth $32,000. FinTrust Capital Advisors LLC lifted its holdings in Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock valued at $39,000 after acquiring an additional 128 shares during the period. Finally, M&R Capital Management Inc. boosted its position in shares of Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 0.7 %

SNOW stock traded up $0.94 during trading on Thursday, reaching $142.86. 3,290,913 shares of the stock were exchanged, compared to its average volume of 8,338,478. The stock has a 50 day simple moving average of $145.22 and a 200-day simple moving average of $172.05. The company has a market capitalization of $47.83 billion, a P/E ratio of -50.97 and a beta of 0.85. Snowflake Inc. has a twelve month low of $122.60 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. Equities analysts predict that Snowflake Inc. will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SNOW. Stifel Nicolaus dropped their price objective on Snowflake from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Guggenheim raised shares of Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Oppenheimer reissued an “outperform” rating and issued a $220.00 price target on shares of Snowflake in a research note on Thursday, May 23rd. Bank of America reissued a “neutral” rating and set a $200.00 target price on shares of Snowflake in a research report on Wednesday, June 12th. Finally, Canaccord Genuity Group reduced their price objective on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.46.

Insider Buying and Selling at Snowflake

In other news, insider Benoit Dageville sold 558 shares of Snowflake stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the sale, the insider now directly owns 63,222 shares in the company, valued at approximately $8,112,014.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total transaction of $71,596.98. Following the completion of the transaction, the insider now owns 63,222 shares in the company, valued at approximately $8,112,014.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold 519,112 shares of company stock valued at $64,932,073 in the last 90 days. 7.80% of the stock is currently 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.