Kovack Advisors Inc. Buys 1,637 Shares of Snowflake Inc. (NYSE:SNOW)

Kovack Advisors Inc. raised its stake in Snowflake Inc. (NYSE:SNOW) by 53.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,679 shares of the company’s stock after acquiring an additional 1,637 shares during the quarter. Kovack Advisors Inc.’s holdings in Snowflake were worth $931,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Motley Fool Asset Management LLC raised its holdings in Snowflake by 8.3% in the 4th quarter. Motley Fool Asset Management LLC now owns 9,068 shares of the company’s stock valued at $1,805,000 after acquiring an additional 697 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Snowflake by 54.8% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 13,417 shares of the company’s stock worth $2,670,000 after purchasing an additional 4,747 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Snowflake by 7.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 160,491 shares of the company’s stock worth $31,938,000 after purchasing an additional 10,987 shares during the period. Syon Capital LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $296,000. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Snowflake by 13,875.0% during the fourth quarter. Pittenger & Anderson Inc. now owns 2,795 shares of the company’s stock worth $556,000 after purchasing an additional 2,775 shares during the period. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Up 3.7 %

Snowflake stock traded up $5.63 during midday trading on Friday, hitting $158.13. 6,533,260 shares of the stock were exchanged, compared to its average volume of 4,341,603. Snowflake Inc. has a 52-week low of $138.40 and a 52-week high of $237.72. The business’s 50-day moving average price is $169.91 and its 200-day moving average price is $178.94.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.05. The firm had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. Research analysts predict that Snowflake Inc. will post -1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Rosenblatt Securities raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Friday, April 5th. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Piper Sandler reiterated an “overweight” rating and set a $250.00 price target on shares of Snowflake in a research report on Tuesday, February 27th. Oppenheimer cut their target price on shares of Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Finally, Stifel Nicolaus cut their target price on shares of Snowflake from $235.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $202.00.

Insider Buying and Selling at Snowflake

In other news, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total value of $2,300,000.00. Following the sale, the senior vice president now owns 726,567 shares of the company’s stock, valued at $167,110,410. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Benoit Dageville sold 689 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the sale, the insider now owns 70,665 shares of the company’s stock, valued at $11,406,744.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Christian Kleinerman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $230.00, for a total transaction of $2,300,000.00. Following the completion of the sale, the senior vice president now directly owns 726,567 shares in the company, valued at approximately $167,110,410. The disclosure for this sale can be found here. Insiders have sold a total of 168,209 shares of company stock worth $34,291,592 over the last three months. 8.30% of the stock is currently owned by insiders.

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.