Clarity Capital Partners LLC Has $1.62 Million Stock Position in Snowflake Inc. (NYSE:SNOW)

Clarity Capital Partners LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 37.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,039 shares of the company’s stock after acquiring an additional 2,718 shares during the quarter. Snowflake makes up 1.1% of Clarity Capital Partners LLC’s investment portfolio, making the stock its 28th largest holding. Clarity Capital Partners LLC’s holdings in Snowflake were worth $1,622,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Ameriprise Financial Inc. boosted its position in Snowflake by 1.3% during the third quarter. Ameriprise Financial Inc. now owns 557,538 shares of the company’s stock valued at $84,943,000 after purchasing an additional 7,416 shares during the last quarter. Scotia Capital Inc. raised its holdings in Snowflake by 1.1% during the third quarter. Scotia Capital Inc. now owns 6,444 shares of the company’s stock valued at $985,000 after buying an additional 69 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Snowflake by 17.8% in the third quarter. Schroder Investment Management Group now owns 92,124 shares of the company’s stock worth $14,074,000 after buying an additional 13,896 shares during the last quarter. Toroso Investments LLC boosted its stake in shares of Snowflake by 3.2% during the 3rd quarter. Toroso Investments LLC now owns 9,320 shares of the company’s stock worth $1,424,000 after acquiring an additional 291 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in shares of Snowflake by 9.0% during the 3rd quarter. Harbour Investments Inc. now owns 3,194 shares of the company’s stock valued at $488,000 after acquiring an additional 265 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now owns 774,097 shares in the company, valued at approximately $121,053,288.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $156.56, for a total transaction of $2,001,149.92. Following the completion of the sale, the executive now owns 354,954 shares in the company, valued at approximately $55,571,598.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 1,500 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $156.38, for a total value of $234,570.00. Following the completion of the sale, the executive vice president now directly owns 774,097 shares of the company’s stock, valued at $121,053,288.86. The disclosure for this sale can be found here. Insiders have sold a total of 534,960 shares of company stock worth $67,198,020 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Snowflake Price Performance

Shares of SNOW traded up $0.03 on Wednesday, hitting $137.49. The company’s stock had a trading volume of 5,831,190 shares, compared to its average volume of 6,611,155. The company has a market capitalization of $46.03 billion, a PE ratio of -49.10 and a beta of 0.85. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72. The company has a 50 day moving average price of $143.67 and a 200 day moving average price of $170.07.

Snowflake (NYSE:SNOW) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.40). The business had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. On average, equities analysts forecast that Snowflake Inc. will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNOW. Guggenheim raised Snowflake from a “sell” rating to a “neutral” rating in a research report on Friday, March 15th. Scotiabank dropped their target price on shares of Snowflake from $207.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 23rd. Canaccord Genuity Group decreased their price target on shares of Snowflake from $230.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 24th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective on shares of Snowflake in a research note on Wednesday, June 5th. Finally, Sanford C. Bernstein raised their target price on Snowflake from $171.00 to $185.00 and gave the company a “market perform” rating in a report on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $199.46.

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.