Independence Bank of Kentucky Buys 387 Shares of Snowflake Inc. (NYSE:SNOW)

Independence Bank of Kentucky boosted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,972 shares of the company’s stock after buying an additional 387 shares during the period. Independence Bank of Kentucky’s holdings in Snowflake were worth $1,077,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank increased its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Prospect Financial Services LLC bought a new stake in Snowflake during the 4th quarter valued at about $288,000. Independent Advisor Alliance raised its holdings in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares during the last quarter. Bourgeon Capital Management LLC bought a new position in shares of Snowflake in the fourth quarter worth approximately $5,851,000. Finally, Franklin Resources Inc. grew its holdings in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after buying an additional 7,373 shares during the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock worth $84,973,139 over the last quarter. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 1.3 %

Shares of NYSE SNOW opened at $181.66 on Friday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market cap of $59.97 billion, a price-to-earnings ratio of -53.59 and a beta of 1.05. The business’s 50 day moving average price is $169.48 and its 200-day moving average price is $137.69.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SNOW shares. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. Citigroup decreased their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Scotiabank increased their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada upped their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

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.