Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Snowflake Inc. (NYSE:SNOW)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Snowflake Inc. (NYSE:SNOW) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,966 shares of the company’s stock after purchasing an additional 2,259 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snowflake were worth $13,583,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment purchased a new position in Snowflake in the third quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $29,000. Blue Bell Private Wealth Management LLC increased its holdings in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Snowflake during the fourth quarter worth approximately $38,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Price Performance

SNOW stock opened at $152.59 on Thursday. The company has a market cap of $50.37 billion, a price-to-earnings ratio of -45.01 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $173.51 and a 200-day moving average of $147.59. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. Rosenblatt Securities raised their price objective on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Needham & Company LLC lifted their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Evercore ISI upped their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their target price on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada boosted their target price on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total transaction of $246,060.36. Following the completion of the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 3,029 shares of Snowflake stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $517,959.00. Following the transaction, the executive vice president now owns 684,639 shares of the company’s stock, valued at approximately $117,073,269. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is owned by insiders.

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.