Zurcher Kantonalbank Zurich Cantonalbank Purchases 46,556 Shares of Snowflake Inc. (NYSE:SNOW)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 52.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,522 shares of the company's stock after buying an additional 46,556 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Snowflake were worth $19,662,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ORG Wealth Partners LLC bought a new position in Snowflake during the first quarter worth $898,000. SBI Securities Co. Ltd. raised its stake in Snowflake by 9.4% during the first quarter. SBI Securities Co. Ltd. now owns 60,591 shares of the company's stock worth $8,856,000 after buying an additional 5,197 shares during the last quarter. Deutsche Bank AG raised its stake in Snowflake by 26.0% during the fourth quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock worth $142,513,000 after buying an additional 190,583 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Snowflake in the first quarter valued at $9,090,000. Finally, Ardmore Road Asset Management LP bought a new stake in Snowflake in the fourth quarter valued at $18,529,000. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Daiwa America raised shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price target on shares of Snowflake from $210.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $212.00 price target (up from $196.00) on shares of Snowflake in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group lifted their price target on shares of Snowflake from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $226.73.

Snowflake Stock Down 0.4%

SNOW opened at $218.74 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market cap of $73.03 billion, a price-to-earnings ratio of -51.96 and a beta of 1.22. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $226.60. The company's 50-day moving average price is $211.83 and its two-hundred day moving average price is $181.48.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, equities analysts expect that Snowflake Inc. will post -2.36 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the sale, the executive vice president directly owned 547,336 shares in the company, valued at approximately $119,806,377.04. This represents a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $221.47, for a total transaction of $89,252.41. Following the sale, the director owned 26,539 shares in the company, valued at $5,877,592.33. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,708,258 shares of company stock valued at $588,162,906. 6.80% of the stock is owned by corporate 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.

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