TD Waterhouse Canada Inc. Grows Stake in Snowflake Inc. $SNOW

TD Waterhouse Canada Inc. boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 61.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,282 shares of the company’s stock after purchasing an additional 7,338 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Snowflake were worth $5,034,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Snowflake during the 4th quarter worth about $974,091,000. Jericho Capital Asset Management L.P. purchased a new position in Snowflake in the 4th quarter valued at about $345,619,000. William Blair Investment Management LLC boosted its stake in shares of Snowflake by 159.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,346,998 shares of the company’s stock worth $295,477,000 after purchasing an additional 828,789 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Snowflake by 44.7% during the first quarter. Pictet Asset Management Holding SA now owns 2,600,571 shares of the company’s stock worth $392,259,000 after buying an additional 803,110 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its holdings in shares of Snowflake by 4,284.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 696,278 shares of the company’s stock worth $105,013,000 after buying an additional 680,397 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $324.06, for a total transaction of $16,312,532.28. Following the completion of the sale, the director owned 26,036 shares of the company’s stock, valued at approximately $8,437,226.16. The trade was a 65.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 48,990 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $320.78, for a total value of $15,715,012.20. Following the sale, the director owned 28,535 shares of the company’s stock, valued at $9,153,457.30. This represents a 63.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,131,160 shares of company stock worth $317,966,701 in the last ninety days. Insiders own 4.80% of the company’s stock.

Key Headlines Impacting Snowflake

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Strong Q2 results: Snowflake reported adjusted earnings of $0.62 per share versus the $0.45 consensus estimate, while revenue increased 35.1% year over year to $1.55 billion, ahead of expectations. Product revenue rose 37% to approximately $1.49 billion. Snowflake shares surge as AI demand powers growth and lifts outlook
• Positive Sentiment: AI is accelerating demand: Management said AI-related offerings contributed about half of the recent growth acceleration. Snowflake’s CoCo coding agent added more than 2,000 accounts, supporting the view that enterprise AI workloads can increase consumption of its data platform. Analysts discuss Snowflake’s AI-driven acceleration
• Positive Sentiment: Guidance and analyst targets moved higher: Snowflake raised fiscal 2027 product-revenue guidance to $6.07 billion from $5.84 billion. UBS, Citi, JPMorgan, TD Cowen and other firms subsequently raised targets, with several reaching $450 to $500 and maintaining bullish ratings. Snowflake’s AI momentum prompts higher price targets
• Neutral Sentiment: Profit-taking after a major rally: The stock had surged more than 20% after the earnings release and reached levels near its 52-week high. The current retreat likely reflects investors locking in gains rather than a deterioration in the latest operating results.
• Negative Sentiment: Margin and valuation risks remain: Management lowered fiscal 2027 gross-margin guidance to 74% as expanding AI workloads increase costs. Snowflake also remains unprofitable under generally accepted accounting principles, while its high valuation leaves the stock vulnerable to further profit-taking if growth expectations moderate. Snowflake’s AI growth and margin outlook
• Negative Sentiment: Executive stock sale: EVP Christian Kleinerman sold 10,000 shares for approximately $3.8 million under a pre-arranged Rule 10b5-1 plan. While scheduled sales do not necessarily signal a change in business outlook, the transaction may add to short-term investor caution after the rally.

Snowflake Price Performance

Snowflake stock opened at $338.47 on Monday. Snowflake Inc. has a 1 year low of $118.30 and a 1 year high of $384.56. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50 day moving average price of $297.66 and a 200 day moving average price of $220.60. The company has a market cap of $117.31 billion, a price-to-earnings ratio of -106.44 and a beta of 1.33.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, September 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.48 billion. Snowflake had a negative net margin of 20.07% and a negative return on equity of 47.20%. Snowflake’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Sell-side analysts predict that Snowflake Inc. will post -1.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNOW shares. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Snowflake from $500.00 to $525.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group boosted their price target on Snowflake from $425.00 to $500.00 and gave the company a “buy” rating in a report on Thursday. Argus increased their price target on Snowflake from $300.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial set a $425.00 price objective on Snowflake and gave the stock a “buy” rating in a report on Thursday. Thirty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $414.24.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.