Commonwealth Equity Services buys stakes in Snowflakes

(Ticker Report) – Commonwealth Equity Services LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,330 shares of the company’s stock, valued at approximately $3,094,000.

Several other hedge funds also recently modified their holdings of the stock. Enterprise Trust & Investment Co bought a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. ARK Investment Management LLC bought a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. Prospera Financial Services Inc bought a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. Finally, Vigilant Capital Management LLC bought a new stake in Snowflake during the third quarter worth $28,000.

NYSE SNOW opened at $260.54 on Thursday. Snowflake Inc. has a twelve month low of $208.55 and a twelve month high of $319.00. The firm has a fifty day moving average of $249.52.

In related news, major shareholder Brad Gerstner acquired 420,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was acquired at an average cost of $120.00 per share, for a total transaction of $50,400,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

SNOW has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Snowflake in a research note on Monday, October 12th. They set an “equal weight” rating and a $220.00 target price for the company. Credit Suisse Group initiated coverage on Snowflake in a research note on Monday, October 12th. They set a “neutral” rating and a $250.00 target price for the company. Summit Insights initiated coverage on Snowflake in a research note on Monday, September 21st. They set a “sell” rating and a $175.00 target price for the company. Citigroup initiated coverage on Snowflake in a research note on Monday, October 12th. They set a “neutral” rating for the company. Finally, Atlantic Securities initiated coverage on Snowflake in a research note on Thursday, October 8th. They set an “underweight” rating and a $214.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $264.95.

Snowflake Profile

Snowflake Inc provides cloud-based data platform in the United States and internationally. The company’s platform enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data. Its platform is used by various organizations of various sizes in a range of industries.

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