Lake Street Financial LLC lowered its position in Snowflake Inc. (NYSE:SNOW – Get Rating) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,436 shares of the company's stock after selling 175 shares during the period. Lake Street Financial LLC's holdings in Snowflake were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNOW. Yousif Capital Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth approximately $966,000. D.A. Davidson & CO. boosted its stake in Snowflake by 6.7% in the 4th quarter. D.A. Davidson & CO. now owns 2,315 shares of the company's stock worth $784,000 after purchasing an additional 145 shares in the last quarter. CWM LLC acquired a new stake in Snowflake in the 4th quarter worth approximately $301,000. Qube Research & Technologies Ltd acquired a new stake in Snowflake in the 4th quarter worth approximately $5,793,000. Finally, Quadrant Capital Group LLC boosted its stake in Snowflake by 60.0% in the 4th quarter. Quadrant Capital Group LLC now owns 392 shares of the company's stock worth $133,000 after purchasing an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 76.67% of the company's stock.

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Analysts Set New Price Targets

SNOW has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 26th. Canaccord Genuity Group upgraded shares of Snowflake from a "hold" rating to a "buy" rating and set a $185.00 target price for the company in a research note on Wednesday, June 15th. Oppenheimer lowered their target price on shares of Snowflake from $280.00 to $230.00 and set an "outperform" rating for the company in a research note on Thursday, May 26th. BTIG Research cut shares of Snowflake from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 2nd. Finally, Raymond James initiated coverage on shares of Snowflake in a research note on Thursday, June 2nd. They set an "outperform" rating and a $184.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $219.27.

Insider Activity at Snowflake

In related news, insider Benoit Dageville sold 727 shares of the company's stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $136.18, for a total value of $99,002.86. Following the completion of the sale, the insider now owns 16,620 shares of the company's stock, valued at $2,263,311.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snowflake news, insider Benoit Dageville sold 727 shares of the company's stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $136.18, for a total value of $99,002.86. Following the transaction, the insider now owns 16,620 shares of the company's stock, valued at $2,263,311.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dennis Mcmahon sold 1,224 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $155.44, for a total transaction of $190,258.56. Following the sale, the director now directly owns 55,659 shares in the company, valued at approximately $8,651,634.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,678 shares of company stock valued at $524,444. 8.90% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of SNOW opened at $165.53 on Friday. Snowflake Inc. has a 12-month low of $110.26 and a 12-month high of $405.00. The firm has a 50-day moving average price of $140.67 and a 200 day moving average price of $189.50.

Snowflake (NYSE:SNOW – Get Rating) last announced its quarterly earnings data on Wednesday, May 25th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.13). Snowflake had a negative net margin of 45.48% and a negative return on equity of 12.39%. The firm had revenue of $422.37 million during the quarter, compared to analysts' expectations of $413.01 million. During the same period in the prior year, the company posted ($0.69) EPS. The company's revenue for the quarter was up 84.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Snowflake Inc. will post -2.1 earnings per share for the current year.

Snowflake Profile

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Snowflake Inc provides a cloud-based data platform in the United States and internationally. The company's 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. Its platform is used by various organizations of sizes in a range of industries.

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