Toronto Dominion Bank Acquires 3,429 Shares of Snowflake Inc. (NYSE:SNOW)

Toronto Dominion Bank lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,655 shares of the company's stock after purchasing an additional 3,429 shares during the period. Toronto Dominion Bank's holdings in Snowflake were worth $6,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Snowflake in the fourth quarter worth approximately $29,000. West Paces Advisors Inc. bought a new position in Snowflake in the fourth quarter worth approximately $31,000. Colonial Trust Co SC bought a new position in Snowflake in the fourth quarter worth approximately $33,000. Quadrant Capital Group LLC boosted its holdings in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after acquiring an additional 91 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 65.10% of the company's stock.

Analysts Set New Price Targets

SNOW has been the topic of several recent research reports. Oppenheimer reiterated an "outperform" rating and issued a $225.00 price target (up previously from $210.00) on shares of Snowflake in a report on Thursday, May 22nd. Citigroup reiterated an "outperform" rating on shares of Snowflake in a report on Thursday, May 22nd. DA Davidson increased their price objective on Snowflake from $200.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Stifel Nicolaus increased their price objective on Snowflake from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Cantor Fitzgerald increased their price objective on Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $217.33.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the transaction, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

NYSE:SNOW traded up $3.32 during trading hours on Tuesday, reaching $203.37. The stock had a trading volume of 2,659,344 shares, compared to its average volume of 6,459,845. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50 day simple moving average of $160.09 and a 200 day simple moving average of $164.69. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $206.32. The stock has a market cap of $67.13 billion, a P/E ratio of -60.13 and a beta of 1.11.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The firm's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, research analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Snowflake Profile

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.