Independence Bank of Kentucky lifted its stake in shares of Snowflake Inc. (NYSE:SNOW – Free Report) by 36.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,715 shares of the company’s stock after buying an additional 1,260 shares during the quarter. Independence Bank of Kentucky’s holdings in Snowflake were worth $762,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC raised its position in shares of Snowflake by 34.3% in the 3rd quarter. Acadian Asset Management LLC now owns 3,364 shares of the company’s stock valued at $512,000 after purchasing an additional 860 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Snowflake by 54.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,717 shares of the company’s stock valued at $1,179,000 after purchasing an additional 2,714 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Snowflake by 13.2% in the 3rd quarter. Bank of Nova Scotia now owns 8,841 shares of the company’s stock valued at $1,351,000 after purchasing an additional 1,031 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at approximately $226,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at approximately $531,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, EVP Christian Kleinerman sold 546 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total transaction of $70,608.72. Following the completion of the sale, the executive vice president now directly owns 756,489 shares of the company’s stock, valued at $97,829,157.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Christian Kleinerman sold 546 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $129.32, for a total transaction of $70,608.72. Following the completion of the sale, the executive vice president now directly owns 756,489 shares of the company’s stock, valued at $97,829,157.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Benoit Dageville sold 558 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the sale, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The disclosure for this sale can be found here. Insiders sold a total of 519,112 shares of company stock worth $64,932,073 over the last 90 days. 7.80% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on SNOW
Snowflake Stock Performance
Shares of Snowflake stock opened at $135.09 on Friday. The business has a fifty day simple moving average of $145.74 and a 200-day simple moving average of $173.23. Snowflake Inc. has a fifty-two week low of $122.60 and a fifty-two week high of $237.72.
Snowflake (NYSE:SNOW – Get Free Report) last announced its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. Sell-side analysts forecast that Snowflake Inc. will post -2.28 EPS for the current year.
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.
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