Cetera Advisors LLC Has $4.66 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Cetera Advisors LLC increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 76.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,831 shares of the company’s stock after buying an additional 12,497 shares during the quarter. Cetera Advisors LLC’s holdings in Snowflake were worth $4,659,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SNOW. Accent Capital Management LLC acquired a new stake in Snowflake during the fourth quarter worth about $25,000. LRI Investments LLC acquired a new stake in Snowflake during the first quarter worth about $29,000. Riverview Trust Co acquired a new stake in Snowflake during the first quarter valued at approximately $31,000. Hartford Financial Management Inc. acquired a new stake in Snowflake during the first quarter valued at approximately $32,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Snowflake during the first quarter valued at approximately $32,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNOW has been the topic of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Snowflake in a report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Snowflake from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. UBS Group lifted their price objective on Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. Loop Capital decreased their price objective on Snowflake from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Snowflake in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $197.31.

Snowflake Stock Down 3.6 %

Shares of SNOW traded down $4.43 during trading hours on Friday, reaching $119.77. The stock had a trading volume of 8,260,332 shares, compared to its average volume of 5,260,484. Snowflake Inc. has a 52 week low of $116.89 and a 52 week high of $237.72. The firm has a 50-day moving average of $133.58 and a 200 day moving average of $162.55. The company has a market cap of $40.10 billion, a P/E ratio of -42.78 and a beta of 0.85.

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

Insider Activity at Snowflake

In related news, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total value of $57,743,980.80. Following the completion of the sale, the executive vice president now owns 494,942 shares in the company, valued at approximately $60,922,410.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the completion of the transaction, the executive vice president now directly owns 733,773 shares of the company’s stock, valued at approximately $104,914,863.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Grzegorz Czajkowski sold 469,120 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the transaction, the executive vice president now directly owns 494,942 shares of the company’s stock, valued at $60,922,410.78. The disclosure for this sale can be found here. Insiders sold a total of 520,678 shares of company stock worth $64,962,300 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

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.