Zions Bancorporation N.A. Buys 971 Shares of Snowflake Inc. (NYSE:SNOW)

Zions Bancorporation N.A. boosted its stake in Snowflake Inc. (NYSE:SNOW) by 10,788.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 980 shares of the company’s stock after purchasing an additional 971 shares during the quarter. Zions Bancorporation N.A.’s holdings in Snowflake were worth $151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Toronto Dominion Bank grew its stake in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the period. Prospect Financial Services LLC acquired a new stake in Snowflake in the 4th quarter valued at $288,000. Independent Advisor Alliance raised its holdings in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after buying an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the fourth quarter worth about $5,851,000. 65.10% of the stock is owned by institutional investors.

Snowflake Price Performance

Shares of NYSE SNOW opened at $159.18 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The stock has a market cap of $52.55 billion, a PE ratio of -46.96 and a beta of 1.07. The stock has a fifty day moving average of $172.61 and a 200-day moving average of $150.69.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the sale, the director now directly owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at approximately $91,673,243.64. This represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,968 shares of company stock worth $50,900,550 in the last quarter. 7.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SNOW. Truist Financial reissued a “buy” rating and set a $225.00 price objective (up from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Cantor Fitzgerald raised their price objective on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a research note on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

About Snowflake

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.