Cota Capital Management LLC Buys 11,419 Shares of Snowflake Inc. (NYSE:SNOW)

Cota Capital Management LLC grew its stake in Snowflake Inc. (NYSE:SNOW) by 88.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,386 shares of the company’s stock after purchasing an additional 11,419 shares during the period. Snowflake accounts for 11.2% of Cota Capital Management LLC’s portfolio, making the stock its 6th biggest position. Cota Capital Management LLC’s holdings in Snowflake were worth $2,801,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Ontario Teachers Pension Plan Board grew its position in shares of 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 worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Legal & General Group Plc increased its stake in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Snowflake by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock worth $216,142,000 after buying an additional 8,743 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Snowflake by 90.3% during the second 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Snowflake by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after acquiring an additional 36,704 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 287 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now directly owns 53,250 shares in the company, valued at $5,932,582.50. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,661 shares of company stock worth $32,004,752 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

SNOW has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Argus started coverage on Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating for the company. TD Cowen lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wedbush raised Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Monday. Finally, JMP Securities dropped their price target on Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research report on Thursday, August 22nd. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.09.

Snowflake Stock Up 1.4 %

SNOW opened at $173.62 on Thursday. The firm’s 50 day moving average is $123.68 and its 200-day moving average is $128.32. The firm has a market capitalization of $58.20 billion, a P/E ratio of -51.22 and a beta of 0.83. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

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.