Snowflake Inc. (NYSE:SNOW) Stake Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Snowflake Inc. (NYSE:SNOW) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,325 shares of the company’s stock after acquiring an additional 4,081 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snowflake were worth $12,602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Desjardins Global Asset Management Inc. increased its holdings in shares of Snowflake by 13.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,948 shares of the company’s stock valued at $388,000 after purchasing an additional 224 shares during the period. Octavia Wealth Advisors LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $249,000. SVB Wealth LLC increased its holdings in shares of Snowflake by 86.8% in the 4th quarter. SVB Wealth LLC now owns 148,217 shares of the company’s stock valued at $29,495,000 after purchasing an additional 68,857 shares during the period. Canton Hathaway LLC acquired a new position in shares of Snowflake in the 4th quarter valued at about $63,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Snowflake by 2.8% in the 4th quarter. Mackenzie Financial Corp now owns 22,790 shares of the company’s stock valued at $4,535,000 after purchasing an additional 616 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $145.45 on Friday. The business has a fifty day simple moving average of $177.80 and a 200 day simple moving average of $179.00. Snowflake Inc. has a one year low of $135.26 and a one year high of $237.72.

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

Insider Activity at Snowflake

In related news, insider Benoit Dageville sold 8,515 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the completion of the transaction, the insider now directly owns 55,216 shares in the company, valued at $8,627,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the transaction, the executive vice president now directly owns 774,097 shares in the company, valued at $121,053,288.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 8,515 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $156.25, for a total value of $1,330,468.75. Following the transaction, the insider now owns 55,216 shares of the company’s stock, valued at $8,627,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,555 shares of company stock worth $36,868,487. 8.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Oppenheimer dropped their target price on Snowflake from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Bank of America lowered their price target on Snowflake from $265.00 to $212.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Redburn Atlantic reissued a “sell” rating and issued a $125.00 price target (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. JMP Securities boosted their price target on Snowflake from $212.00 to $235.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. Finally, Raymond James boosted their price target on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.00.

Snowflake 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.