Zions Bancorporation National Association UT Grows Position in Snowflake Inc. $SNOW

Zions Bancorporation National Association UT lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 27,971.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,965 shares of the company’s stock after acquiring an additional 1,958 shares during the period. Zions Bancorporation National Association UT’s holdings in Snowflake were worth $440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new position in Snowflake in the 2nd quarter valued at $3,900,134,000. Nuveen LLC purchased a new stake in Snowflake in the 1st quarter valued at about $555,847,000. AQR Capital Management LLC lifted its holdings in shares of Snowflake by 346.2% during the 1st quarter. AQR Capital Management LLC now owns 3,171,635 shares of the company’s stock worth $456,430,000 after acquiring an additional 2,460,769 shares during the period. Jennison Associates LLC boosted its position in shares of Snowflake by 20.5% in the second quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock worth $1,790,309,000 after acquiring an additional 1,363,389 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Snowflake by 19.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,732,428 shares of the company’s stock valued at $691,693,000 after purchasing an additional 763,673 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the sale, the executive vice president owned 527,336 shares in the company, valued at $123,132,956. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the transaction, the senior vice president owned 241,854 shares of the company’s stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 931,388 shares of company stock valued at $216,578,628. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Jefferies Financial Group lifted their target price on Snowflake from $250.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Truist Financial boosted their price target on Snowflake from $235.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, August 28th. Stephens started coverage on Snowflake in a research note on Friday, July 18th. They issued an “overweight” rating and a $261.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Snowflake in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.95.

Snowflake Trading Up 2.3%

NYSE:SNOW opened at $268.92 on Tuesday. The company has a market cap of $91.11 billion, a PE ratio of -64.80 and a beta of 1.23. The business’s 50 day moving average is $241.16 and its two-hundred day moving average is $216.31. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.96. Snowflake Inc. has a 52 week low of $120.10 and a 52 week high of $280.67.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. On average, analysts predict that Snowflake Inc. will post -2.36 EPS for the current year.

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.