Morgan Stanley Adjusts ServiceNow Rating Amid Shifting Institutional Holdings
On October 21, 2024, Morgan Stanley revised its outlook for ServiceNow (WBAG:SNOW), changing it from Overweight to Equal-Weight.
Current Fund Sentiment Towards ServiceNow
There are now 3,166 funds and institutions reporting holdings in ServiceNow, reflecting an increase of 119 or 3.91% since last quarter. The average portfolio weight for all funds invested in SNOW stands at 0.66%, a rise of 0.32%. Institutions collectively increased their shares in the last three months, owning a total of 210,707K shares, which marks a 4.69% increase.
Price T Rowe Associates currently holds 7,712K shares, representing 3.75% ownership. Previously, they reported 8,393K shares, marking a decrease of 8.82% and a 7.43% reduction in their portfolio allocation for SNOW over the last quarter.
The Vanguard Total Stock Market Index Fund Investor Shares, with 6,480K shares or 3.15% ownership, showed an increase of 0.60% from last quarter when they had 6,441K shares. Their portfolio allocation in SNOW has risen by 0.94%.
JPMorgan Chase owns 5,392K shares, with a 2.62% ownership stake. Their holdings increased by 3.86% from the previous 5,184K shares. However, this fund decreased its portfolio allocation in SNOW significantly by 83.68% recently.
The Vanguard 500 Index Fund Investor Shares own 5,262K shares, which equates to 2.56% ownership. Compared to the previous reporting of 5,166K shares, this reflects an increase of 1.81%, despite a slight decrease of 0.52% in their allocation to SNOW.
Geode Capital Management holds 4,134K shares, representing 2.01% ownership. Their previous stake was 4,036K shares, which signifies an increase of 2.37%. The fund, however, has reduced its portfolio allocation in SNOW by 47.63% over the last quarter.
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