Bourgeon Capital Management LLC Has $7.60 Million Stock Position in Snowflake Inc. $SNOW

Bourgeon Capital Management LLC reduced its position in Snowflake Inc. (NYSE:SNOW) by 10.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,952 shares of the company’s stock after selling 3,971 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Snowflake were worth $7,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Advantage Inc. lifted its holdings in shares of Snowflake by 1.1% during the second quarter. Capital Advantage Inc. now owns 4,412 shares of the company’s stock valued at $987,000 after acquiring an additional 48 shares during the period. Ignite Planners LLC increased its position in Snowflake by 2.3% in the first quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after purchasing an additional 64 shares during the period. Archford Capital Strategies LLC increased its position in Snowflake by 1.9% in the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock worth $527,000 after purchasing an additional 68 shares during the period. TD Private Client Wealth LLC increased its position in Snowflake by 8.9% in the first quarter. TD Private Client Wealth LLC now owns 832 shares of the company’s stock worth $122,000 after purchasing an additional 68 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Snowflake by 29.7% in the first quarter. Geneos Wealth Management Inc. now owns 319 shares of the company’s stock worth $47,000 after purchasing an additional 73 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $224.84, for a total transaction of $90,610.52. Following the sale, the director owned 25,733 shares in the company, valued at $5,785,807.72. This represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Emily Ho sold 1,658 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $225.25, for a total value of $373,464.50. Following the sale, the chief accounting officer owned 31,745 shares in the company, valued at approximately $7,150,561.25. This represents a 4.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,947,739 shares of company stock worth $438,614,781. 6.80% of the stock is currently owned by company insiders.

Snowflake Trading Up 0.5%

NYSE SNOW opened at $225.76 on Tuesday. The stock has a market capitalization of $76.49 billion, a price-to-earnings ratio of -54.40 and a beta of 1.22. The stock’s 50 day moving average price is $214.49 and its two-hundred day moving average price is $194.01. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.48 and a current ratio of 1.48. Snowflake Inc. has a 52 week low of $108.71 and a 52 week high of $249.99.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, August 27th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Snowflake had a negative return on equity of 42.98% and a negative net margin of 33.53%.The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. As a group, analysts anticipate that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Macquarie boosted their target price on Snowflake from $210.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. DA Davidson restated a “buy” rating and set a $250.00 target price on shares of Snowflake in a research report on Monday, August 25th. Barclays boosted their target price on Snowflake from $219.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. KeyCorp lifted their price objective on Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Finally, UBS Group lifted their price objective on Snowflake from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.53.

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.