Snowflake Inc. $SNOW Stock Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Snowflake stake by 57.8% in the third quarter, purchasing 11,139 additional shares for a total holding valued at approximately $10.4 million. Institutional investors collectively own 65.1% of the company.
• Snowflake insiders sold 956,744 shares worth approximately $316.7 million over the past 90 days, while insider ownership stands at 4.8%.
• Analysts remain broadly positive, with 35 Buy, five Hold and one Sell rating; Snowflake has a “Moderate Buy” consensus and an average price target of $414.24, compared with shares opening at $306.50.

TD Waterhouse Canada Inc. boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 57.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,421 shares of the company's stock after purchasing an additional 11,139 shares during the period. TD Waterhouse Canada Inc.'s holdings in Snowflake were worth $10,408,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNOW. Millennium Capital Advisors LLC purchased a new stake in Snowflake during the third quarter worth about $263,000. Pension & Wealth Management Advisors Inc. grew its stake in Snowflake by 70.9% during the third quarter. Pension & Wealth Management Advisors Inc. now owns 475 shares of the company's stock valued at $162,000 after acquiring an additional 197 shares in the last quarter. Goldstein Advisors LLC increased its holdings in Snowflake by 14.5% during the 3rd quarter. Goldstein Advisors LLC now owns 1,414 shares of the company's stock worth $480,000 after acquiring an additional 179 shares during the period. V Square Quantitative Management LLC increased its holdings in Snowflake by 87.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 848 shares of the company's stock worth $288,000 after acquiring an additional 395 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Snowflake by 134.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 790,291 shares of the company's stock worth $268,351,000 after acquiring an additional 453,342 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Buying and Selling

In related news, Director Michael Speiser sold 403 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $344.00, for a total transaction of $138,632.00. Following the transaction, the director owned 21,767 shares of the company's stock, valued at approximately $7,487,848. This trade represents a 1.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Beaulier sold 755 shares of Snowflake stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $336.36, for a total transaction of $253,951.80. Following the completion of the transaction, the executive owned 211,619 shares in the company, valued at approximately $71,180,166.84. The trade was a 0.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 956,744 shares of company stock worth $316,741,285 in the last ninety days. 4.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on SNOW. Phillip Securities downgraded shares of Snowflake from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, October 12th. The Goldman Sachs Group boosted their price target on shares of Snowflake from $300.00 to $436.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Robert W. Baird set a $450.00 price target on shares of Snowflake in a report on Thursday, September 3rd. Cantor Fitzgerald increased their price objective on Snowflake from $405.00 to $430.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Finally, KeyCorp increased their price objective on Snowflake from $285.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Thirty-five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and an average price target of $414.24.

Snowflake Trading Down 0.1%

Shares of SNOW opened at $306.50 on Monday. The firm's 50 day simple moving average is $333.25 and its 200 day simple moving average is $255.61. The company has a market capitalization of $108.13 billion, a P/E ratio of -96.38 and a beta of 1.35. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.94 and a quick ratio of 0.94. Snowflake Inc. has a 1-year low of $118.30 and a 1-year high of $384.56.

Snowflake (NYSE:SNOW - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.17. Snowflake had a negative net margin of 20.07% and a negative return on equity of 46.32%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $0.35 earnings per share. Snowflake's revenue for the quarter was up 35.1% on a year-over-year basis. Sell-side analysts forecast that Snowflake Inc. will post -1.44 earnings per share for the current fiscal year.

About Snowflake

Snowflake Inc is a cloud-based data platform company that helps organizations store, process, analyze and share data across public cloud environments. Its platform is designed to support data warehousing, data lakes, data engineering, data applications and analytics without requiring customers to manage the underlying hardware or software infrastructure.

Snowflake offers services for data sharing and collaboration, allowing organizations to securely exchange data with internal teams, customers, partners and third-party providers.

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