Wealth Alliance Takes $217,000 Position in Freshpet, Inc. (NASDAQ:FRPT)

Wealth Alliance purchased a new stake in shares of Freshpet, Inc. (NASDAQ:FRPT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,499 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently made changes to their positions in the company. RiverPark Advisors LLC bought a new stake in shares of Freshpet during the 3rd quarter valued at $28,000. Washington Trust Advisors Inc. raised its stake in shares of Freshpet by 617.3% during the 4th quarter. Washington Trust Advisors Inc. now owns 581 shares of the company’s stock valued at $50,000 after purchasing an additional 500 shares during the period. Parkside Financial Bank & Trust increased its stake in Freshpet by 873.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 818 shares of the company’s stock worth $84,000 after acquiring an additional 734 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Freshpet in the 3rd quarter worth about $59,000. Finally, Tower Research Capital LLC TRC increased its stake in Freshpet by 1,185.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 977 shares of the company’s stock worth $64,000 after acquiring an additional 901 shares during the last quarter.

Insider Transactions at Freshpet

In related news, COO Scott James Morris sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $112.02, for a total transaction of $280,050.00. Following the completion of the transaction, the chief operating officer now owns 122,380 shares in the company, valued at $13,709,007.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Scott James Morris sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $112.02, for a total value of $280,050.00. Following the completion of the sale, the chief operating officer now directly owns 122,380 shares of the company’s stock, valued at approximately $13,709,007.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephen Macchiaverna sold 7,130 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $108.53, for a total transaction of $773,818.90. Following the completion of the sale, the executive vice president now directly owns 85,056 shares of the company’s stock, valued at $9,231,127.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,762 shares of company stock worth $1,737,280. 3.60% of the stock is currently owned by insiders.

Freshpet Trading Up 0.8 %

Shares of FRPT stock opened at $104.69 on Friday. The stock has a market capitalization of $5.06 billion, a PE ratio of -147.45 and a beta of 1.23. Freshpet, Inc. has a 1-year low of $54.60 and a 1-year high of $117.76. The business has a 50-day moving average of $106.43 and a 200 day moving average of $85.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.79 and a quick ratio of 4.08.

Freshpet (NASDAQ:FRPT) last issued its earnings results on Monday, February 26th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.22. The company had revenue of $215.40 million during the quarter, compared to analysts’ expectations of $204.93 million. Freshpet had a negative return on equity of 3.56% and a negative net margin of 4.38%. Freshpet’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. As a group, sell-side analysts anticipate that Freshpet, Inc. will post 0.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FRPT shares. StockNews.com upgraded Freshpet to a “sell” rating in a research note on Saturday, December 30th. Stifel Nicolaus upped their target price on Freshpet from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Truist Financial upgraded Freshpet from a “hold” rating to a “buy” rating and upped their target price for the stock from $120.00 to $135.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. upped their target price on Freshpet from $67.00 to $102.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler increased their price objective on Freshpet from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.36.

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.