Toronto Dominion Bank Acquires 7,239 Shares of Snowflake Inc. (NYSE:SNOW)

Toronto Dominion Bank lifted its holdings in Snowflake Inc. (NYSE:SNOW) by 24.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,226 shares of the company’s stock after acquiring an additional 7,239 shares during the quarter. Toronto Dominion Bank’s holdings in Snowflake were worth $4,276,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Shaolin Capital Management LLC purchased a new stake in Snowflake during the 3rd quarter valued at about $345,000. Geode Capital Management LLC lifted its position in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Sender Co & Partners Inc. boosted its stake in shares of Snowflake by 100.9% during the third quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock valued at $979,000 after purchasing an additional 4,280 shares during the period. Resources Management Corp CT ADV grew its holdings in shares of Snowflake by 17.0% in the third quarter. Resources Management Corp CT ADV now owns 8,979 shares of the company’s stock worth $1,031,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Luxor Capital Group LP purchased a new position in shares of Snowflake in the third quarter worth $264,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insider Activity

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now directly owns 53,820 shares in the company, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 294,384 shares of company stock valued at $47,993,609 over the last three months. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $167.67 on Friday. 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 firm has a market cap of $55.35 billion, a price-to-earnings ratio of -49.46 and a beta of 1.03. The business has a 50-day simple moving average of $138.94 and a two-hundred day simple moving average of $129.66. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen increased their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $180.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Mizuho upped their price target on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Loop Capital decreased their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $183.89.

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.