Snowflake Inc. (NYSE:SNOW) Stock Position Lifted by Independence Bank of Kentucky

Independence Bank of Kentucky increased its stake in Snowflake Inc. (NYSE:SNOW) by 19.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,640 shares of the company’s stock after purchasing an additional 925 shares during the quarter. Independence Bank of Kentucky’s holdings in Snowflake were worth $762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Accent Capital Management LLC acquired a new position in shares of Snowflake during the 4th quarter valued at $25,000. LRI Investments LLC acquired a new stake in Snowflake during the first quarter valued at approximately $29,000. FinTrust Capital Advisors LLC boosted its holdings in Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Riverview Trust Co bought a new position in shares of Snowflake in the first quarter valued at $31,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of Snowflake during the 1st quarter worth $32,000. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $137.14, for a total transaction of $2,057,100.00. Following the transaction, the executive vice president now owns 757,597 shares in the company, valued at $103,896,852.58. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $137.14, for a total value of $2,057,100.00. Following the completion of the transaction, the executive vice president now owns 757,597 shares of the company’s stock, valued at approximately $103,896,852.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael L. Speiser bought 76,200 shares of Snowflake stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $131.09 per share, for a total transaction of $9,989,058.00. Following the completion of the acquisition, the director now owns 1,632,225 shares of the company’s stock, valued at approximately $213,968,375.25. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 527,678 shares of company stock worth $65,491,235. Insiders own 7.80% of the company’s stock.

Snowflake Stock Up 0.6 %

NYSE:SNOW traded up $0.65 during trading hours on Friday, hitting $115.86. 16,772,605 shares of the stock were exchanged, compared to its average volume of 6,671,334. The company’s 50 day moving average is $129.74 and its two-hundred day moving average is $154.20. The company has a market capitalization of $38.79 billion, a P/E ratio of -41.38 and a beta of 0.85. Snowflake Inc. has a twelve month low of $107.93 and a twelve month high of $237.72.

Snowflake (NYSE:SNOW) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 15.99% and a negative net margin of 30.80%. The firm had revenue of $868.80 million during the quarter, compared to analyst estimates of $851.72 million. During the same period last year, the company earned ($0.52) earnings per share. The company’s revenue was up 28.9% on a year-over-year basis. On average, equities research analysts expect that Snowflake Inc. will post -2.31 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday. KeyCorp upped their price target on shares of Snowflake from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price objective on shares of Snowflake in a research report on Thursday. Mizuho decreased their target price on Snowflake from $205.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Jefferies Financial Group reduced their price objective on Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.03.

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.