Lake Street Private Wealth LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Lake Street Private Wealth LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,440 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board grew its stake in shares of 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 buying an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC grew its holdings in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after buying an additional 526,608 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNOW has been the subject of several research reports. Rosenblatt Securities restated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Argus began coverage on Snowflake in a research note on Tuesday, October 1st. They set a “hold” rating for the company. Wedbush lowered Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, UBS Group reduced their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Two investment 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Stock Up 1.9 %

Shares of Snowflake stock opened at $170.89 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a market cap of $56.41 billion, a P/E ratio of -50.41 and a beta of 1.05. 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 firm has a fifty day moving average of $161.11 and a two-hundred day moving average of $135.02.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

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.