Nepsis Inc. Invests $13.80 Million in Snowflake Inc. (NYSE:SNOW)

Nepsis Inc. acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 94,397 shares of the company's stock, valued at approximately $13,797,000. Snowflake makes up approximately 3.4% of Nepsis Inc.'s holdings, making the stock its 17th largest position.

Several other hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at about $29,000. West Paces Advisors Inc. acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in Snowflake in the fourth quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in shares of Snowflake during the 4th quarter worth about $32,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNOW. Cantor Fitzgerald upped their target price on shares of Snowflake from $183.00 to $242.00 and gave the stock an "overweight" rating in a research note on Thursday, May 22nd. Rosenblatt Securities restated a "buy" rating and set a $205.00 target price on shares of Snowflake in a research note on Monday, May 19th. Loop Capital raised their price objective on shares of Snowflake from $220.00 to $245.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Evercore ISI reissued a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Finally, Robert W. Baird increased their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average target price of $222.81.

Insider Activity

In other news, CAO Emily Ho sold 5,027 shares of Snowflake stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $199.06, for a total value of $1,000,674.62. Following the completion of the transaction, the chief accounting officer now directly owns 40,608 shares of the company's stock, valued at approximately $8,083,428.48. This trade represents a 11.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 3,765 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $586,172.85. Following the completion of the transaction, the executive vice president now directly owns 616,602 shares in the company, valued at approximately $95,998,765.38. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 900,459 shares of company stock valued at $170,184,739 in the last quarter. Company insiders own 6.80% of the company's stock.

Snowflake Stock Performance

Shares of NYSE SNOW traded up $0.25 during trading hours on Wednesday, reaching $208.49. The stock had a trading volume of 5,134,394 shares, compared to its average volume of 6,294,850. The company has a market cap of $69.61 billion, a price-to-earnings ratio of -61.50 and a beta of 1.21. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $214.83. The business's fifty day moving average is $171.87 and its two-hundred day moving average is $169.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Snowflake (NYSE:SNOW - Get Free Report) last posted its earnings results on Wednesday, May 21st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative return on equity of 24.23% and a negative net margin of 33.02%. Snowflake's revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. As a group, research analysts expect that Snowflake Inc. will post -2.36 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.