Snowflake Inc. (NYSE:SNOW) Shares Purchased by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 43.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,640 shares of the company’s stock after acquiring an additional 805 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Snowflake were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SNOW. Slow Capital Inc. grew its position in Snowflake by 5.1% in the 3rd quarter. Slow Capital Inc. now owns 32,979 shares of the company’s stock valued at $3,788,000 after buying an additional 1,592 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Snowflake by 21.5% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,018 shares of the company’s stock worth $232,000 after acquiring an additional 357 shares during the period. Blue Trust Inc. boosted its holdings in shares of Snowflake by 168.5% in the third quarter. Blue Trust Inc. now owns 1,407 shares of the company’s stock valued at $162,000 after acquiring an additional 883 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in shares of Snowflake by 69.7% during the third quarter. Stratos Wealth Advisors LLC now owns 7,908 shares of the company’s stock worth $908,000 after acquiring an additional 3,248 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of Snowflake during the third quarter worth about $234,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SNOW. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a report on Wednesday, October 2nd. Bank of America dropped their price objective on Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Canaccord Genuity Group reduced their target price on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. TD Cowen lowered their price target on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.74.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now owns 718,773 shares in the company, valued at approximately $86,252,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Frank Slootman sold 6,251 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $23,877,196.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the transaction, the executive vice president now directly owns 718,773 shares in the company, valued at $86,252,760. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,538 shares of company stock worth $7,049,994. 7.80% of the stock is currently owned by company insiders.

Snowflake Price Performance

NYSE:SNOW traded up $0.51 during trading hours on Friday, reaching $119.54. 2,751,726 shares of the company were exchanged, compared to its average volume of 6,648,311. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72. The stock has a 50 day simple moving average of $116.65 and a 200 day simple moving average of $133.31. The firm has a market cap of $40.02 billion, a price-to-earnings ratio of -42.70 and a beta of 0.83.

Snowflake (NYSE:SNOW) last issued its earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) earnings per share. On average, analysts predict that Snowflake Inc. will post -2.41 EPS for the current fiscal year.

Snowflake Company 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.