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

Toronto Dominion Bank boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 9.2% in the 4th quarter, HoldingsChannel reports. The fund owned 40,655 shares of the company’s stock after buying an additional 3,429 shares during the quarter. Toronto Dominion Bank’s holdings in Snowflake were worth $6,278,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Snowflake during the 4th quarter valued at about $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake during the 4th quarter valued at about $31,000. Colonial Trust Co SC purchased a new stake in Snowflake during the 4th quarter valued at about $33,000. Quadrant Capital Group LLC boosted its holdings in Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock valued at $33,000 after acquiring an additional 91 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 144 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial dropped their target price on Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 31st. Canaccord Genuity Group increased their price objective on Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada increased their price objective on Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $201.00 price objective on shares of Snowflake in a report on Tuesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $205.00 price objective on shares of Snowflake in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy 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 $201.00.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 7,016 shares of Snowflake stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $1,092,321.04. Following the completion of the sale, the director now owns 182,999 shares of the company’s stock, valued at approximately $28,491,114.31. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the executive vice president now directly owns 594,975 shares of the company’s stock, valued at approximately $102,186,956.25. The trade was a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock valued at $58,204,058 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Down 2.0%

SNOW stock opened at $179.28 on Thursday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $195.23. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $59.18 billion, a PE ratio of -52.89 and a beta of 1.11. The business has a 50 day moving average of $157.35 and a 200 day moving average of $162.37.

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.