Toronto Dominion Bank Increases Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Toronto Dominion Bank lifted its position in Snowflake Inc. (NYSE:SNOW) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Snowflake by 31.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock valued at $314,000 after purchasing an additional 490 shares in the last quarter. Avior Wealth Management LLC raised its stake in Snowflake by 182.0% in the fourth quarter. Avior Wealth Management LLC now owns 313 shares of the company’s stock valued at $48,000 after purchasing an additional 202 shares in the last quarter. Brighton Jones LLC raised its stake in Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company’s stock valued at $9,556,000 after purchasing an additional 29,320 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Snowflake by 14.4% during the fourth quarter. Blue Trust Inc. now owns 1,609 shares of the company’s stock worth $248,000 after acquiring an additional 202 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $202.40 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $209.80. The company’s 50 day moving average is $162.77 and its 200 day moving average is $165.80. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $67.57 billion, a PE ratio of -59.70 and a beta of 1.11.

Snowflake (NYSE:SNOW) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative net margin of 33.02% and a negative return on equity of 24.23%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned $0.14 EPS. Snowflake’s quarterly revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling

In other Snowflake news, CAO Emily Ho sold 5,027 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $199.06, for a total value of $1,000,674.62. Following the sale, the chief accounting officer now owns 40,608 shares in the company, valued at approximately $8,083,428.48. This represents a 11.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred 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 owns 594,975 shares in the company, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 849,779 shares of company stock worth $158,838,193. 7.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on SNOW shares. Cowen reissued a “buy” rating on shares of Snowflake in a research note on Thursday, May 22nd. HSBC downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Piper Sandler reissued an “overweight” rating and set a $215.00 price target (up from $175.00) on shares of Snowflake in a research note on Wednesday, May 21st. Canaccord Genuity Group lifted their price target on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Monness Crespi & Hardt lifted their price target on shares of Snowflake from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.33.

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.