Insider Selling: Freshpet Inc. (FRPT) VP Sells $79,279.20 in Stock
Freshpet Inc. (NASDAQ:FRPT) VP Mary Kathryn Winstanley sold 7,920 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $10.01, for a total value of $79,279.20. Following the transaction, the vice president now directly owns 24,404 shares in the company, valued at approximately $244,284.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Freshpet Inc. (NASDAQ:FRPT) opened at 9.16 on Wednesday. The company’s market capitalization is $291.29 million. Freshpet Inc. has a 1-year low of $5.60 and a 1-year high of $11.81. The company has a 50-day moving average price of $10.12 and a 200 day moving average price of $9.01.
Freshpet (NASDAQ:FRPT) last posted its earnings results on Thursday, August 4th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.07. Freshpet had a negative net margin of 3.12% and a negative return on equity of 3.80%. The company earned $33 million during the quarter, compared to the consensus estimate of $32.92 million. During the same quarter in the prior year, the business earned ($0.07) EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Freshpet Inc. will post ($0.12) EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverbridge Partners LLC raised its position in Freshpet by 40.3% in the second quarter. Riverbridge Partners LLC now owns 2,552,253 shares of the company’s stock worth $23,813,000 after buying an additional 732,575 shares in the last quarter. Franklin Resources Inc. raised its position in Freshpet by 361.2% in the first quarter. Franklin Resources Inc. now owns 2,166,760 shares of the company’s stock worth $15,882,000 after buying an additional 1,696,958 shares in the last quarter. Vanguard Group Inc. raised its position in Freshpet by 7.2% in the second quarter. Vanguard Group Inc. now owns 963,945 shares of the company’s stock worth $8,994,000 after buying an additional 64,995 shares in the last quarter. Boston Partners raised its position in Freshpet by 2.8% in the second quarter. Boston Partners now owns 814,250 shares of the company’s stock worth $7,597,000 after buying an additional 22,481 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Freshpet by 9.6% in the second quarter. BlackRock Fund Advisors now owns 582,539 shares of the company’s stock worth $5,435,000 after buying an additional 50,846 shares in the last quarter. Institutional investors own 66.93% of the company’s stock.
A number of research analysts recently weighed in on FRPT shares. Zacks Investment Research raised Freshpet from a “strong sell” rating to a “hold” rating in a report on Monday, August 8th. Robert W. Baird reissued an “outperform” rating and set a $10.00 target price on shares of Freshpet in a report on Monday, August 8th. Wedbush lowered Freshpet from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $11.00 in a report on Monday, August 15th. TheStreet lowered Freshpet from a “hold” rating to a “sell” rating in a report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $10.00 target price (up from $9.00) on shares of Freshpet in a report on Friday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $10.56.
Freshpet, Inc is a manufacturer of fresh, refrigerated pet food distributed across North America. The Company operates in the segment of manufacturing, marketing and distribution of pet food and pet treats for dogs and cats. The Company offers products consisting of dog food, cat food, and dog and cat treats.
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