Independence Bank of Kentucky Has $1.08 Million Stock Holdings in Snowflake Inc. (NYSE:SNOW)

Independence Bank of Kentucky increased its position in Snowflake Inc. (NYSE:SNOW) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,972 shares of the company’s stock after buying an additional 387 shares during the quarter. Independence Bank of Kentucky’s holdings in Snowflake were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter worth about $25,000. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after purchasing an additional 230 shares during the period. Union Bancaire Privee UBP SA bought a new position in Snowflake during the 4th quarter worth approximately $38,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the 3rd quarter worth approximately $30,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SNOW shares. JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $200.00 in a research report on Tuesday, January 7th. Mizuho upped their target price on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. KeyCorp lifted their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, TD Cowen increased their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.06.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 504,151 shares of company stock valued at $84,973,139. Company insiders own 7.80% of the company’s stock.

Snowflake Trading Up 1.3 %

SNOW opened at $181.66 on Friday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50 day simple moving average of $169.48 and a two-hundred day simple moving average of $137.69. The firm has a market capitalization of $59.97 billion, a price-to-earnings ratio of -53.59 and a beta of 1.05.

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.