Lake Street Private Wealth LLC Invests $222,000 in Snowflake Inc. (NYSE:SNOW)

Lake Street Private Wealth LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,440 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors have also recently made changes to their positions in the company. B & T Capital Management DBA Alpha Capital Management increased its holdings in shares of Snowflake by 2.6% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 37,255 shares of the company’s stock valued at $5,752,000 after acquiring an additional 953 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $493,000. Wealthcare Advisory Partners LLC increased its stake in Snowflake by 2.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 12,421 shares of the company’s stock valued at $1,918,000 after purchasing an additional 241 shares in the last quarter. Kraematon Investment Advisors Inc. purchased a new position in shares of Snowflake in the fourth quarter worth $240,000. Finally, Retireful LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $631,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of NYSE SNOW opened at $170.89 on Friday. The stock has a market capitalization of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $237.72. The firm has a 50-day simple moving average of $161.11 and a 200-day simple moving average of $135.02. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer upped their target price on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. KeyCorp increased their price objective on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Bank of America lifted their target price on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Scotiabank increased their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Finally, 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 report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the sale, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,904 shares of company stock valued at $62,545,855. Corporate insiders own 7.80% of the company’s stock.

About Snowflake

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.