Lake Street Private Wealth LLC Has $2.49 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Lake Street Private Wealth LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 1,082.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,033 shares of the company's stock after acquiring an additional 15,593 shares during the period. Lake Street Private Wealth LLC's holdings in Snowflake were worth $2,490,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SNOW. Gainplan LLC acquired a new stake in shares of Snowflake in the 1st quarter valued at about $375,000. Grassi Investment Management grew its holdings in shares of Snowflake by 3.3% during the first quarter. Grassi Investment Management now owns 81,250 shares of the company's stock worth $11,875,000 after buying an additional 2,580 shares in the last quarter. Teamwork Financial Advisors LLC bought a new position in shares of Snowflake during the first quarter worth about $408,000. Watershed Private Wealth LLC acquired a new stake in Snowflake in the 1st quarter valued at approximately $347,000. Finally, Whipplewood Advisors LLC raised its position in Snowflake by 51.0% in the 1st quarter. Whipplewood Advisors LLC now owns 471 shares of the company's stock valued at $69,000 after buying an additional 159 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SNOW shares. Wolfe Research raised Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a research report on Tuesday, February 18th. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Daiwa Capital Markets assumed coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. DA Davidson reiterated a "buy" rating and issued a $250.00 price target on shares of Snowflake in a research note on Wednesday. Finally, Rosenblatt Securities restated a "buy" rating and set a $205.00 price objective on shares of Snowflake in a research note on Monday, May 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.97.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 10,000 shares of Snowflake stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $205.67, for a total transaction of $2,056,700.00. Following the sale, the executive vice president now directly owns 570,632 shares of the company's stock, valued at approximately $117,361,883.44. The trade was a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 849,779 shares of company stock worth $159,318,643 over the last ninety days. Corporate insiders own 6.80% of the company's stock.

Snowflake Price Performance

Shares of NYSE SNOW traded up $0.68 during midday trading on Friday, reaching $210.78. The company's stock had a trading volume of 3,796,901 shares, compared to its average volume of 6,356,234. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $70.37 billion, a P/E ratio of -62.18 and a beta of 1.21. The business's 50 day moving average price is $168.14 and its two-hundred day moving average price is $168.59. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $214.83.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. The company's quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. On average, analysts forecast that Snowflake Inc. will post -2.36 EPS for the current fiscal year.

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.