Bourgeon Capital Management LLC Purchases Shares of 37,895 Snowflake Inc. (NYSE:SNOW)

Bourgeon Capital Management LLC purchased a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, Holdings Channel reports. The fund purchased 37,895 shares of the company’s stock, valued at approximately $5,851,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNOW. State Street Corp lifted its position in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the last quarter. 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 acquiring an additional 138,663 shares during the last quarter. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Trading Up 1.5 %

Shares of NYSE:SNOW opened at $173.43 on Wednesday. The business has a fifty day simple moving average of $162.06 and a 200-day simple moving average of $135.12. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

SNOW has been the subject of a number of research analyst reports. Piper Sandler upped their target price on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup dropped their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a report on Tuesday, November 19th. Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,904 shares of company stock valued at $62,545,855. Insiders own 7.80% of the company’s stock.

Snowflake 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.