Freshpet, Inc. (NASDAQ:FRPT) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC trimmed its position in shares of Freshpet, Inc. (NASDAQ:FRPT) by 14.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,207 shares of the company’s stock after selling 361 shares during the period. RiverPark Advisors LLC’s holdings in Freshpet were worth $302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Natixis Advisors LLC acquired a new stake in shares of Freshpet during the 3rd quarter worth $1,433,000. Zions Bancorporation N.A. increased its holdings in Freshpet by 18.5% in the 3rd quarter. Zions Bancorporation N.A. now owns 13,606 shares of the company’s stock valued at $1,861,000 after purchasing an additional 2,121 shares in the last quarter. KBC Group NV increased its holdings in Freshpet by 0.8% in the 3rd quarter. KBC Group NV now owns 24,869 shares of the company’s stock valued at $3,401,000 after purchasing an additional 186 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Freshpet by 166.2% in the 3rd quarter. Geneva Capital Management LLC now owns 84,221 shares of the company’s stock valued at $11,519,000 after purchasing an additional 52,584 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Freshpet in the 3rd quarter valued at $77,000.

Freshpet Price Performance

Shares of NASDAQ:FRPT opened at $150.00 on Friday. The firm’s 50 day moving average is $140.98 and its two-hundred day moving average is $132.16. Freshpet, Inc. has a 52 week low of $68.14 and a 52 week high of $159.12. The firm has a market capitalization of $7.28 billion, a P/E ratio of 168.54 and a beta of 1.39. The company has a current ratio of 4.72, a quick ratio of 3.91 and a debt-to-equity ratio of 0.41.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. During the same quarter last year, the business earned ($0.15) earnings per share. Freshpet’s revenue was up 26.3% compared to the same quarter last year. Analysts anticipate that Freshpet, Inc. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FRPT shares. Truist Financial increased their price target on Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen raised their target price on Freshpet from $160.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer raised their target price on Freshpet from $155.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus raised their target price on Freshpet from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on Freshpet from $126.00 to $154.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Freshpet presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.80.

Insider Buying and Selling at Freshpet

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of Freshpet stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $153.85, for a total value of $384,625.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total transaction of $304,941.78. Following the completion of the transaction, the executive vice president now owns 86,039 shares in the company, valued at approximately $12,046,320.39. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.