Wasatch Advisors Inc. boosted its stake in Freshpet, Inc. (NASDAQ:FRPT) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,126,499 shares of the company’s stock after purchasing an additional 50,702 shares during the quarter. Freshpet comprises about 1.5% of Wasatch Advisors Inc.’s holdings, making the stock its 16th biggest position. Wasatch Advisors Inc. owned 5.23% of Freshpet worth $237,423,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of the business. PDT Partners LLC grew its holdings in Freshpet by 1.5% in the second quarter. PDT Partners LLC now owns 7,819 shares of the company’s stock worth $654,000 after purchasing an additional 119 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Freshpet by 0.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 15,434 shares of the company’s stock valued at $1,723,000 after buying an additional 120 shares during the last quarter. US Bancorp DE grew its holdings in shares of Freshpet by 2.9% during the second quarter. US Bancorp DE now owns 9,073 shares of the company’s stock valued at $759,000 after buying an additional 253 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Freshpet by 2.7% during the third quarter. Aperio Group LLC now owns 10,526 shares of the company’s stock valued at $1,175,000 after buying an additional 273 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Freshpet by 3.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,568 shares of the company’s stock valued at $1,068,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 96.40% of the company’s stock.
FRPT stock traded up $0.74 during mid-day trading on Friday, hitting $135.75. The company had a trading volume of 195,871 shares, compared to its average volume of 386,261. The firm has a market cap of $5.52 billion, a PE ratio of 1,234.20 and a beta of 0.83. Freshpet, Inc. has a 12 month low of $40.79 and a 12 month high of $139.71. The stock’s fifty day moving average price is $122.94 and its two-hundred day moving average price is $99.85.
A number of research analysts have recently issued reports on the stock. Truist lifted their price objective on shares of Freshpet from $90.00 to $120.00 in a report on Wednesday, October 28th. Smith Barney Citigroup lifted their price objective on shares of Freshpet from $93.00 to $100.00 in a report on Wednesday, November 4th. Jefferies Financial Group lifted their price objective on shares of Freshpet from $118.00 to $144.00 and gave the company a “buy” rating in a report on Friday, October 16th. Citigroup boosted their price target on shares of Freshpet from $78.00 to $93.00 and gave the stock a “sell” rating in a report on Tuesday, August 4th. Finally, Oppenheimer began coverage on shares of Freshpet in a report on Monday, August 3rd. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $99.67.
In other news, VP Stephen Macchiaverna sold 4,856 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $114.00, for a total value of $553,584.00. Following the sale, the vice president now owns 88,973 shares of the company’s stock, valued at $10,142,922. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence S. Coben sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $110.90, for a total transaction of $221,800.00. Following the completion of the sale, the director now directly owns 49,438 shares in the company, valued at approximately $5,482,674.20. The disclosure for this sale can be found here. In the last three months, insiders sold 37,209 shares of company stock worth $4,908,724. Insiders own 4.50% of the company’s stock.
Freshpet Company Profile
Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.
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