TD Asset Management Inc Has $12.10 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

TD Asset Management Inc increased its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,765 shares of the company’s stock after purchasing an additional 1,683 shares during the period. TD Asset Management Inc’s holdings in Snowflake were worth $12,097,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter valued at approximately $26,000. CVA Family Office LLC lifted its holdings in Snowflake by 80.0% during the first quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the period. West Paces Advisors Inc. bought a new stake in Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake during the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the fourth quarter worth $31,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Up 0.6%

Shares of NYSE:SNOW opened at $220.12 on Thursday. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $226.60. The firm has a market capitalization of $73.49 billion, a P/E ratio of -52.28 and a beta of 1.22. The stock has a 50 day moving average price of $213.37 and a 200-day moving average price of $182.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial raised their target price on Snowflake from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Snowflake in a research report on Thursday, May 22nd. KeyCorp restated an “overweight” rating on shares of Snowflake in a research report on Wednesday, June 25th. Piper Sandler restated an “overweight” rating and set a $215.00 target price (up from $175.00) on shares of Snowflake in a research report on Wednesday, May 21st. Finally, Stephens assumed coverage on Snowflake in a research report on Friday, July 18th. They set an “overweight” rating and a $261.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.73.

Insider Transactions at Snowflake

In related news, Director Mark Garrett sold 67,000 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $198.98, for a total value of $13,331,660.00. Following the sale, the director owned 7,428 shares in the company, valued at $1,478,023.44. This represents a 90.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 424,852 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the sale, the director owned 165,507 shares in the company, valued at $36,303,960.45. The trade was a 71.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,698,258 shares of company stock valued at $586,482,906. Corporate insiders own 6.80% of the company’s stock.

Snowflake Company 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.