Insider Selling: Freshpet, Inc. (FRPT) Insider Sells $33,195.80 in Stock
Freshpet, Inc. (NASDAQ:FRPT) insider Scott James Morris sold 2,101 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $15.80, for a total transaction of $33,195.80. Following the sale, the insider now directly owns 204,408 shares of the company’s stock, valued at approximately $3,229,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Freshpet, Inc. (NASDAQ:FRPT) remained flat at $14.55 on Friday. The stock had a trading volume of 9,419 shares. The company’s market capitalization is $462.69 million. The stock has a 50-day moving average of $15.93 and a 200-day moving average of $14.33. Freshpet, Inc. has a 52 week low of $7.60 and a 52 week high of $18.25.
Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.09 million. Freshpet had a negative net margin of 2.57% and a negative return on equity of 3.44%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. On average, equities analysts predict that Freshpet, Inc. will post ($0.09) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in Freshpet by 1.4% in the 2nd quarter. Bank of Montreal Can now owns 7,368 shares of the company’s stock worth $122,000 after buying an additional 103 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Freshpet by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,936 shares of the company’s stock valued at $1,145,000 after purchasing an additional 380 shares during the last quarter. Teachers Advisors LLC lifted its position in Freshpet by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 34,476 shares of the company’s stock valued at $350,000 after purchasing an additional 396 shares during the last quarter. Citadel Advisors LLC lifted its position in Freshpet by 4.0% in the second quarter. Citadel Advisors LLC now owns 19,358 shares of the company’s stock valued at $321,000 after purchasing an additional 750 shares during the last quarter. Finally, American International Group Inc. lifted its position in Freshpet by 7.1% in the first quarter. American International Group Inc. now owns 13,762 shares of the company’s stock valued at $151,000 after purchasing an additional 917 shares during the last quarter. Institutional investors own 66.81% of the company’s stock.
Several equities research analysts recently weighed in on FRPT shares. ValuEngine raised shares of Freshpet from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group upped their price objective on shares of Freshpet from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, June 16th. Zacks Investment Research cut shares of Freshpet from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Imperial Capital started coverage on shares of Freshpet in a report on Thursday, July 20th. They issued an “in-line” rating and a $16.50 target price for the company. They noted that the move was a valuation call. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price (up previously from $14.00) on shares of Freshpet in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.36.
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’s products consist of dog food, cat food, and dog and cat treats.
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