Snowflake Inc. $SNOW Shares Sold by Bourgeon Capital Management LLC

Bourgeon Capital Management LLC trimmed its position in shares of Snowflake Inc. (NYSE:SNOW) by 8.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,142 shares of the company’s stock after selling 2,810 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Snowflake were worth $7,024,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its holdings in shares of Snowflake by 4,333.3% during the third quarter. SJS Investment Consulting Inc. now owns 133 shares of the company’s stock worth $30,000 after buying an additional 130 shares in the last quarter. Generali Asset Management SPA SGR lifted its stake in shares of Snowflake by 0.8% in the third quarter. Generali Asset Management SPA SGR now owns 10,068 shares of the company’s stock worth $2,271,000 after buying an additional 75 shares in the last quarter. True Wealth Design LLC boosted its position in Snowflake by 9.2% during the third quarter. True Wealth Design LLC now owns 958 shares of the company’s stock worth $216,000 after acquiring an additional 81 shares during the last quarter. Coastline Trust Co grew its stake in Snowflake by 1.0% during the 3rd quarter. Coastline Trust Co now owns 4,183 shares of the company’s stock valued at $943,000 after acquiring an additional 42 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new stake in Snowflake in the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.2%

Shares of NYSE:SNOW opened at $216.75 on Friday. The company has a market capitalization of $74.17 billion, a price-to-earnings ratio of -53.65 and a beta of 1.14. Snowflake Inc. has a 12-month low of $120.10 and a 12-month high of $280.67. The business has a 50-day moving average price of $243.00 and a 200 day moving average price of $228.53. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.07.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, December 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.04. Snowflake had a negative net margin of 30.76% and a negative return on equity of 45.91%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $0.20 earnings per share. Snowflake’s revenue was up 28.7% compared to the same quarter last year. Sell-side analysts expect that Snowflake Inc. will post -2.36 EPS for the current year.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Raymond James Financial set a $250.00 target price on Snowflake in a report on Monday, December 15th. Macquarie boosted their price objective on Snowflake from $235.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, December 4th. Evercore ISI upped their target price on Snowflake from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. DA Davidson reiterated a “buy” rating and set a $300.00 price target on shares of Snowflake in a report on Monday, December 1st. Finally, KeyCorp boosted their price target on shares of Snowflake from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.32.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction on Monday, December 1st. The stock was sold at an average price of $249.53, for a total value of $2,495,300.00. Following the completion of the sale, the executive vice president directly owned 512,450 shares of the company’s stock, valued at approximately $127,871,648.50. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael L. Speiser sold 50,338 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $230.65, for a total value of $11,610,459.70. Following the completion of the sale, the director owned 32,756 shares in the company, valued at $7,555,171.40. This represents a 60.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 351,139 shares of company stock valued at $81,300,853. Company insiders own 6.80% of the company’s stock.

Snowflake Company 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.