Kovack Advisors Inc. Sells 600 Shares of Snowflake Inc. (NYSE:SNOW)

Kovack Advisors Inc. lowered its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 18.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,594 shares of the company’s stock after selling 600 shares during the period. Kovack Advisors Inc.’s holdings in Snowflake were worth $401,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Groupama Asset Managment acquired a new stake in Snowflake in the third quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. Perkins Coie Trust Co increased its stake in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Snowflake during the fourth quarter worth about $38,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Canaccord Genuity Group increased their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. Citigroup increased their price objective on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 21st. Truist Financial reiterated a “buy” rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a report on Thursday. Finally, Bank of America lifted their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Trading Up 1.8 %

Shares of SNOW stock opened at $176.76 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a 50-day simple moving average of $173.19 and a two-hundred day simple moving average of $145.51.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction 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 $124,515,900. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock worth $52,833,048 in the last 90 days. Insiders own 7.80% of the company’s stock.

About Snowflake

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.