Clarity Capital Partners LLC Has $2.07 Million Stake in Snowflake Inc. (NYSE:SNOW)

Clarity Capital Partners LLC lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,399 shares of the company’s stock after acquiring an additional 909 shares during the quarter. Snowflake makes up about 1.1% of Clarity Capital Partners LLC’s portfolio, making the stock its 23rd biggest holding. Clarity Capital Partners LLC’s holdings in Snowflake were worth $2,069,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SNOW. Asset Dedication LLC boosted its position in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the period. Breakwater Capital Group lifted its stake in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Snowflake by 31.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after buying an additional 90 shares during the period. Catalyst Private Wealth LLC grew its stake in Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock valued at $382,000 after buying an additional 104 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after acquiring an additional 115 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 2.2 %

Shares of Snowflake stock opened at $187.56 on Thursday. The firm has a market cap of $61.91 billion, a price-to-earnings ratio of -55.33 and a beta of 1.07. The stock’s 50-day moving average is $171.21 and its 200 day moving average is $140.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a one year low of $107.13 and a one year high of $236.33.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 516,933 shares of company stock worth $88,283,752. Corporate insiders own 7.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNOW. Evercore ISI boosted their price objective on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank boosted their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup reduced their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, KeyCorp upped their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.63.

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.