Snowflake Inc. (NYSE:SNOW) Shares Bought by Swiss National Bank

Swiss National Bank increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 876,300 shares of the company’s stock after buying an additional 37,700 shares during the quarter. Swiss National Bank owned 0.27% of Snowflake worth $174,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Snowflake by 4.0% in the third quarter. Vanguard Group Inc. now owns 19,428,890 shares of the company’s stock worth $2,968,152,000 after acquiring an additional 743,211 shares in the last quarter. FMR LLC increased its position in Snowflake by 32.1% during the third quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after buying an additional 1,496,235 shares during the last quarter. Northern Trust Corp raised its holdings in Snowflake by 5.4% during the third quarter. Northern Trust Corp now owns 1,882,281 shares of the company’s stock valued at $287,556,000 after buying an additional 95,814 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Snowflake by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 1,668,797 shares of the company’s stock worth $254,942,000 after buying an additional 79,825 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Snowflake by 69.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after acquiring an additional 623,277 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SNOW. Raymond James raised their target price on Snowflake from $190.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. JMP Securities upped their target price on shares of Snowflake from $212.00 to $235.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 29th. UBS Group boosted their price target on shares of Snowflake from $185.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Truist Financial reduced their price objective on shares of Snowflake from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, BNP Paribas raised Snowflake from a “neutral” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $202.77.

Snowflake Price Performance

Shares of SNOW stock traded up $1.55 during trading hours on Friday, reaching $159.32. The company had a trading volume of 3,647,284 shares, compared to its average volume of 6,370,508. The company has a market cap of $53.24 billion, a price-to-earnings ratio of -62.20 and a beta of 0.90. Snowflake Inc. has a 12 month low of $138.40 and a 12 month high of $237.72. The business has a fifty day simple moving average of $164.60 and a 200-day simple moving average of $178.82.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million for the quarter, compared to analysts’ expectations of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. On average, equities research analysts expect that Snowflake Inc. will post -1.9 earnings per share for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 1,500 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now directly owns 28,393 shares in the company, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Emily Ho sold 1,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank Slootman sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total value of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares in the company, valued at $40,555,593.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,458 shares of company stock valued at $33,785,640. Company insiders own 8.30% of the company’s stock.

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.