Clarity Capital Partners LLC Increases Position in Snowflake Inc. (NYSE:SNOW)

Clarity Capital Partners LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,344 shares of the company's stock after purchasing an additional 4,945 shares during the period. Snowflake makes up about 1.1% of Clarity Capital Partners LLC's investment portfolio, making the stock its 19th largest holding. Clarity Capital Partners LLC's holdings in Snowflake were worth $2,681,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new position in shares of Snowflake in the 1st quarter worth $26,000. CVA Family Office LLC boosted its stake in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new position in shares of Snowflake in the 4th quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in shares of Snowflake in the 4th quarter worth $31,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth $31,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of SNOW stock traded up $3.79 during trading hours on Friday, hitting $221.13. The stock had a trading volume of 2,761,777 shares, compared to its average volume of 6,056,513. Snowflake Inc. has a one year low of $107.13 and a one year high of $225.68. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The stock's 50-day moving average price is $197.86 and its two-hundred day moving average price is $175.27. The stock has a market capitalization of $73.83 billion, a price-to-earnings ratio of -52.52 and a beta of 1.22.

Snowflake (NYSE:SNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts forecast that Snowflake Inc. will post -2.36 EPS for the current year.

Insider Activity at Snowflake

In other Snowflake news, Director Jeremy Burton sold 19,111 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $220.80, for a total transaction of $4,219,708.80. Following the sale, the director directly owned 3,987 shares of the company's stock, valued at $880,329.60. The trade was a 82.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 294,125 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $217.29, for a total value of $63,910,421.25. Following the sale, the director directly owned 165,507 shares in the company, valued at $35,963,016.03. The trade was a 63.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,876,557 shares of company stock valued at $403,565,119 over the last ninety days. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank restated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. UBS Group upgraded Snowflake from a "neutral" rating to a "buy" rating and raised their price target for the stock from $210.00 to $265.00 in a research note on Wednesday, June 4th. Citigroup reiterated an "outperform" rating on shares of Snowflake in a research report on Thursday, May 22nd. Daiwa Capital Markets started coverage on Snowflake in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price on the stock. Finally, Raymond James Financial reiterated an "outperform" rating and set a $212.00 target price (up from $196.00) on shares of Snowflake in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.36.

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.