Lake Street Private Wealth LLC Purchases 440 Shares of Snowflake Inc. (NYSE:SNOW)

Lake Street Private Wealth LLC lifted its position in Snowflake Inc. (NYSE:SNOW) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,661 shares of the company’s stock after buying an additional 440 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Snowflake were worth $430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Snowflake by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock worth $4,176,755,000 after purchasing an additional 1,559,830 shares during the period. Sands Capital Management LLC boosted its position in Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares during the period. Norges Bank bought a new position in Snowflake during the fourth quarter worth $838,455,000. 1832 Asset Management L.P. boosted its position in Snowflake by 51.8% during the fourth quarter. 1832 Asset Management L.P. now owns 1,680,700 shares of the company’s stock worth $334,459,000 after purchasing an additional 573,400 shares during the period. Finally, Wellington Management Group LLP boosted its position in Snowflake by 69.9% during the third quarter. Wellington Management Group LLP now owns 1,515,224 shares of the company’s stock worth $231,481,000 after purchasing an additional 623,277 shares during the period. 65.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their price objective on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Robert W. Baird reduced their price objective on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Wedbush reissued a “neutral” rating and set a $210.00 target price on shares of Snowflake in a report on Wednesday, June 5th. UBS Group lifted their target price on Snowflake from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Finally, Mizuho dropped their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $199.46.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snowflake news, EVP Grzegorz Czajkowski sold 469,120 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $123.09, for a total transaction of $57,743,980.80. Following the completion of the sale, the executive vice president now owns 494,942 shares of the company’s stock, valued at approximately $60,922,410.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $156.38, for a total transaction of $234,570.00. Following the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at approximately $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold 519,112 shares of company stock worth $64,932,073 over the last ninety days. Insiders own 7.80% of the company’s stock.

Snowflake Stock Performance

NYSE:SNOW opened at $142.86 on Friday. The stock’s 50-day moving average is $145.02 and its 200-day moving average is $171.84. Snowflake Inc. has a 1-year low of $122.60 and a 1-year high of $237.72.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million for the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. On average, research analysts forecast that Snowflake Inc. will post -2.28 earnings per share for the current year.

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.