Motley Fool Asset Management LLC Buys 26,776 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Motley Fool Asset Management LLC raised its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 175.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 42,064 shares of the company’s stock after purchasing an additional 26,776 shares during the quarter. Motley Fool Asset Management LLC owned 0.10% of Fox Factory worth $2,190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FOXF. Norges Bank acquired a new stake in shares of Fox Factory during the 4th quarter valued at about $31,429,000. Norden Group LLC boosted its position in shares of Fox Factory by 3,378.1% during the 1st quarter. Norden Group LLC now owns 286,420 shares of the company’s stock valued at $14,914,000 after acquiring an additional 278,185 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Fox Factory by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after acquiring an additional 228,339 shares in the last quarter. RWWM Inc. acquired a new stake in shares of Fox Factory during the 4th quarter valued at about $7,969,000. Finally, Jane Street Group LLC boosted its position in shares of Fox Factory by 173.7% during the 1st quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock valued at $9,470,000 after acquiring an additional 115,432 shares in the last quarter.

Insider Buying and Selling

In related news, insider Thomas L. Fletcher sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now directly owns 11,311 shares of the company’s stock, valued at $502,321.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Michael C. Dennison bought 11,250 shares of the stock in a transaction on Monday, June 10th. The stock was purchased at an average price of $44.30 per share, with a total value of $498,375.00. Following the completion of the purchase, the chief executive officer now owns 130,266 shares of the company’s stock, valued at $5,770,783.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas L. Fletcher sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now directly owns 11,311 shares of the company’s stock, valued at approximately $502,321.51. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Fox Factory Price Performance

Shares of NASDAQ FOXF traded up $0.81 during trading on Wednesday, reaching $53.39. The company had a trading volume of 438,912 shares, compared to its average volume of 609,068. Fox Factory Holding Corp. has a 52 week low of $37.98 and a 52 week high of $117.68. The stock has a market cap of $2.22 billion, a PE ratio of 30.02, a PEG ratio of 2.23 and a beta of 1.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.85 and a current ratio of 3.43. The business’s 50 day moving average price is $47.60 and its 200-day moving average price is $50.68.

Fox Factory (NASDAQ:FOXF) last announced its earnings results on Thursday, May 2nd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.56%. The company had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same period in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was down 16.6% on a year-over-year basis. Analysts expect that Fox Factory Holding Corp. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FOXF. Stifel Nicolaus reduced their price target on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Truist Financial boosted their price target on shares of Fox Factory from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Roth Mkm reduced their price target on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird reduced their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, Bank of America reduced their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.67.

Fox Factory Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.