Zurcher Kantonalbank Zurich Cantonalbank Has $9.84 Million Stake in Snowflake Inc. (NYSE:SNOW)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Snowflake Inc. (NYSE:SNOW) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,707 shares of the company’s stock after buying an additional 5,252 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snowflake were worth $9,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. Ontario Teachers Pension Plan Board grew its holdings in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Legal & General Group Plc grew its holdings in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares during the period. Bank of New York Mellon Corp increased its position in shares of Snowflake by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after buying an additional 8,743 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after acquiring an additional 36,704 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNOW. JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. Argus assumed coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating on the stock. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Jefferies Financial Group raised their price objective on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada increased their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. This represents a 6.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock valued at $32,004,752 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 0.6 %

Shares of NYSE SNOW opened at $174.80 on Monday. The firm has a market cap of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83. The business’s 50 day moving average is $126.17 and its 200-day moving average is $128.27. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $237.72.

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.