Snowflake Inc. $SNOW Position Boosted by TD Asset Management Inc

Key Points

• TD Asset Management increased its Snowflake stake by 6.1% in the fourth quarter, ending with 145,863 shares valued at about $32 million.
• Institutional ownership remains high, with hedge funds and other investors holding 65.10% of Snowflake shares; several large firms, including Vanguard and Jennison Associates, also added to their positions.
• Analysts remain mostly positive after Snowflake’s strong quarterly results, with several firms raising price targets and the consensus rating still at “Moderate Buy” with an average target price of $290.87.

TD Asset Management Inc raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,863 shares of the company's stock after acquiring an additional 8,330 shares during the quarter. TD Asset Management Inc's holdings in Snowflake were worth $31,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SNOW. Norges Bank purchased a new position in Snowflake during the 4th quarter valued at about $974,091,000. Jennison Associates LLC grew its stake in shares of Snowflake by 27.7% in the 4th quarter. Jennison Associates LLC now owns 11,603,302 shares of the company's stock valued at $2,545,300,000 after buying an additional 2,519,413 shares in the last quarter. Coatue Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at approximately $441,277,000. American Century Companies Inc. grew its stake in shares of Snowflake by 233.3% in the 3rd quarter. American Century Companies Inc. now owns 2,104,925 shares of the company's stock valued at $474,766,000 after buying an additional 1,473,354 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Snowflake by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 30,095,687 shares of the company's stock valued at $6,601,790,000 after buying an additional 1,448,094 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In related news, Director Mark Garrett sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $250.00, for a total value of $25,000,000.00. Following the completion of the sale, the director directly owned 8,801 shares in the company, valued at approximately $2,200,250. The trade was a 91.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 162,924 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $263.70, for a total value of $42,963,058.80. Following the completion of the sale, the director owned 38,046 shares of the company's stock, valued at approximately $10,032,730.20. This trade represents a 81.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,538,672 shares of company stock valued at $346,816,863 in the last quarter. Company insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

SNOW has been the subject of several recent research reports. Barclays boosted their price target on Snowflake from $272.00 to $285.00 and gave the company an "equal weight" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on Snowflake from $205.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Cantor Fitzgerald boosted their price target on Snowflake from $225.00 to $282.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, May 28th. Finally, Sanford C. Bernstein boosted their price target on Snowflake from $195.00 to $250.00 and gave the company a "market perform" rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $290.87.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Snowflake Stock Down 2.5%

SNOW opened at $238.12 on Friday. The business has a 50 day moving average price of $165.25 and a 200 day moving average price of $190.55. Snowflake Inc. has a twelve month low of $118.30 and a twelve month high of $284.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.05. The firm has a market cap of $82.32 billion, a P/E ratio of -67.65 and a beta of 1.35.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.07. Snowflake had a negative return on equity of 50.50% and a negative net margin of 23.79%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $0.24 EPS. The company's revenue for the quarter was up 33.5% on a year-over-year basis. Research analysts forecast that Snowflake Inc. will post -1.87 EPS for the current year.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.

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