Snowflake Inc. (NYSE:SNOW) Position Increased by Clarity Capital Partners LLC

Clarity Capital Partners LLC boosted its position in shares of Snowflake Inc. (NYSE:SNOW) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,399 shares of the company’s stock after purchasing an additional 909 shares during the period. Snowflake accounts for approximately 1.1% of Clarity Capital Partners LLC’s portfolio, making the stock its 23rd biggest position. Clarity Capital Partners LLC’s holdings in Snowflake were worth $2,069,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment bought a new stake in shares of Snowflake in the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the fourth quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new stake in Snowflake in the third quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new position in shares of Snowflake during the 3rd quarter worth $34,000. Finally, Perkins Coie Trust Co raised its holdings in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares in the company, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders 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

Several equities analysts have commented on SNOW shares. Monness Crespi & Hardt increased their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC increased their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Bank of America lifted their price target on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.63.

Snowflake Trading Up 2.2 %

Shares of NYSE:SNOW 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 company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $236.33. The company’s fifty day simple moving average is $171.21 and its 200 day simple moving average is $140.48.

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.