Wasatch Advisors LP Sells 1,322,144 Shares of Freshpet, Inc. $FRPT

Wasatch Advisors LP cut its position in Freshpet, Inc. (NASDAQ:FRPT) by 31.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,819,293 shares of the company’s stock after selling 1,322,144 shares during the quarter. Wasatch Advisors LP owned 0.06% of Freshpet worth $166,677,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its position in shares of Freshpet by 1,031.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 931,905 shares of the company’s stock valued at $56,781,000 after purchasing an additional 1,031,905 shares in the last quarter. Armistice Capital LLC raised its position in shares of Freshpet by 118.4% in the third quarter. Armistice Capital LLC now owns 1,234,802 shares of the company’s stock worth $68,050,000 after buying an additional 669,399 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Freshpet by 122.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,197,317 shares of the company’s stock worth $72,953,000 after buying an additional 658,114 shares in the last quarter. AQR Capital Management LLC boosted its stake in Freshpet by 278.5% during the second quarter. AQR Capital Management LLC now owns 859,981 shares of the company’s stock valued at $58,444,000 after buying an additional 632,756 shares during the period. Finally, Norges Bank bought a new stake in Freshpet during the fourth quarter valued at $37,045,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Freshpet from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Bank of America dropped their price target on Freshpet from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $70.00 price objective on shares of Freshpet in a report on Thursday, August 6th. Weiss Ratings cut shares of Freshpet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, TD Cowen raised their target price on shares of Freshpet from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Freshpet has an average rating of “Moderate Buy” and a consensus target price of $75.31.

Insider Activity

In other news, CEO William B. Cyr sold 4,319 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $51.18, for a total transaction of $221,046.42. Following the transaction, the chief executive officer directly owned 25,565 shares in the company, valued at approximately $1,308,416.70. This represents a 14.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig D. Steeneck acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $47.83 per share, for a total transaction of $95,660.00. Following the completion of the acquisition, the director owned 37,500 shares in the company, valued at $1,793,625. This represents a 5.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 188,760 shares of company stock valued at $9,306,127. Corporate insiders own 4.30% of the company’s stock.

Freshpet Stock Up 5.9%

FRPT opened at $71.75 on Wednesday. The stock has a market cap of $3.53 billion, a PE ratio of 18.88 and a beta of 1.61. The company has a quick ratio of 5.03, a current ratio of 6.05 and a debt-to-equity ratio of 0.34. Freshpet, Inc. has a 52 week low of $46.45 and a 52 week high of $86.00. The business’s fifty day simple moving average is $57.00 and its 200 day simple moving average is $62.61.

Freshpet Profile

Freshpet Inc (NASDAQ: FRPT) is a leading pet food company specializing in fresh, refrigerated meals and treats for dogs and cats. The company’s products are formulated with carefully selected, natural ingredients and are designed to offer a higher level of nutrition and freshness than traditional dry or canned pet foods. Freshpet’s offerings include refrigerated rolls, pâtés and snacks, all of which are sold through the refrigerated section of grocery, mass-market and pet specialty stores.

Freshpet’s product portfolio is built around the concept of fresh, minimally processed recipes that do not require preservatives or artificial colors.