Clarity Capital Partners LLC Buys 4,945 Shares of Snowflake Inc. (NYSE:SNOW)

Clarity Capital Partners LLC lifted its position in Snowflake Inc. (NYSE:SNOW - Free Report) by 36.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,344 shares of the company's stock after buying an additional 4,945 shares during the period. Snowflake makes up 1.1% of Clarity Capital Partners LLC's holdings, making the stock its 19th largest position. 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 modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in shares of Snowflake in the first quarter worth about $898,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snowflake by 455.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,178 shares of the company's stock worth $19,174,000 after purchasing an additional 101,806 shares during the period. SPX Gestao de Recursos Ltda purchased a new position in Snowflake during the 4th quarter worth approximately $3,088,000. Deutsche Bank AG raised its stake in Snowflake by 26.0% during the 4th quarter. Deutsche Bank AG now owns 922,953 shares of the company's stock valued at $142,513,000 after purchasing an additional 190,583 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in shares of Snowflake in the first quarter valued at $9,090,000. Institutional investors and hedge funds own 65.10% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNOW. Stifel Nicolaus upped their price target on Snowflake from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. KeyCorp reiterated an "overweight" rating on shares of Snowflake in a report on Wednesday, June 25th. Daiwa Capital Markets initiated coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Mizuho increased their target price on shares of Snowflake from $215.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.36.

Snowflake Stock Performance

NYSE SNOW traded up $3.79 during midday trading on Thursday, hitting $221.13. The company had a trading volume of 2,761,777 shares, compared to its average volume of 6,054,199. The firm has a fifty day simple moving average of $195.35 and a two-hundred day simple moving average of $174.42. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $225.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58.

Snowflake (NYSE:SNOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 37.75% and a negative net margin of 36.43%. The firm's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.14 earnings per share. On average, research analysts predict that Snowflake Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $218.89, for a total transaction of $2,188,900.00. Following the completion of the transaction, the executive vice president directly owned 547,336 shares of the company's stock, valued at approximately $119,806,377.04. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 294,125 shares of Snowflake stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $217.29, for a total transaction of $63,910,421.25. Following the sale, the director owned 165,507 shares in the company, valued at approximately $35,963,016.03. This trade represents a 63.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,875,814 shares of company stock valued at $403,367,676. Company insiders own 6.80% of the company's stock.

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.