TD Asset Management Inc Sells 3,515 Shares of Snowflake Inc. $SNOW

Key Points

• TD Asset Management Inc has reduced its stake in Snowflake Inc by 4.2%, selling 3,515 shares and retaining 79,250 shares worth approximately $17.7 million.
• Corporate insiders have recently sold over 1.18 million shares of Snowflake, with Director Frank Slootman reducing his stake by 81.1% in a significant transaction valued at over $163 million.
• Analysts have a positive outlook on Snowflake, with the stock having an average target price of $256.71 and various brokerage firms maintaining bullish ratings.

TD Asset Management Inc decreased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 4.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 79,250 shares of the company's stock after selling 3,515 shares during the period. TD Asset Management Inc's holdings in Snowflake were worth $17,734,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital Advantage Inc. grew its stake in Snowflake by 1.1% in the 2nd quarter. Capital Advantage Inc. now owns 4,412 shares of the company's stock worth $987,000 after buying an additional 48 shares in the last quarter. Ignite Planners LLC boosted its stake in Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock worth $418,000 after buying an additional 64 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Snowflake by 1.9% in the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after purchasing an additional 68 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock worth $122,000 after purchasing an additional 68 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Snowflake by 29.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 319 shares of the company's stock worth $47,000 after purchasing an additional 73 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 710,083 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the sale, the director directly owned 165,507 shares in the company, valued at approximately $38,144,398.29. This trade represents a 81.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Vivek Raghunathan sold 11,801 shares of Snowflake stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $223.22, for a total value of $2,634,219.22. Following the completion of the sale, the senior vice president directly owned 241,854 shares of the company's stock, valued at approximately $53,986,649.88. The trade was a 4.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,182,434 shares of company stock worth $270,280,661. Corporate insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNOW. Stephens began coverage on shares of Snowflake in a research note on Friday, July 18th. They set an "overweight" rating and a $261.00 price objective for the company. JMP Securities reiterated a "market outperform" rating and set a $260.00 target price on shares of Snowflake in a report on Tuesday, August 26th. UBS Group raised their price objective on Snowflake from $285.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Wedbush upped their target price on shares of Snowflake from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Finally, Royal Bank Of Canada lifted their price target on shares of Snowflake from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.71.

Snowflake Trading Up 0.3%

NYSE SNOW opened at $240.68 on Friday. Snowflake Inc. has a 12 month low of $113.23 and a 12 month high of $255.39. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average price is $222.38 and its 200-day moving average price is $201.63. The stock has a market cap of $81.54 billion, a P/E ratio of -58.00 and a beta of 1.21.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.08. Snowflake had a negative net margin of 33.53% and a negative return on equity of 42.98%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.18 EPS. Snowflake's revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.

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