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

Wasatch Advisors LP reduced its stake in Freshpet, Inc. (NASDAQ:FRPT) by 31.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,819,293 shares of the company’s stock after selling 1,322,144 shares during the quarter. Wasatch Advisors LP owned 5.74% of Freshpet worth $166,677,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in Freshpet by 606.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock worth $25,000 after acquiring an additional 358 shares during the period. Motiv8 Investments LLC bought a new position in shares of Freshpet during the 4th quarter valued at approximately $28,000. Signaturefd LLC grew its position in shares of Freshpet by 143.0% during the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock valued at $31,000 after acquiring an additional 296 shares during the period. Parallel Advisors LLC increased its stake in shares of Freshpet by 55.0% during the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after purchasing an additional 197 shares during the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Freshpet during the 4th quarter worth approximately $32,000.

Insiders Place Their Bets

In other news, CEO William B. Cyr sold 4,319 shares of Freshpet stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $51.18, for a total value of $221,046.42. Following the completion of the transaction, the chief executive officer directly owned 25,565 shares in the company, valued at approximately $1,308,416.70. The trade was a 14.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 bought at an average price of $47.83 per share, for a total transaction of $95,660.00. Following the completion of the purchase, the director owned 37,500 shares in the company, valued at $1,793,625. This trade represents a 5.63% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 188,760 shares of company stock worth $9,306,127 in the last three months. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FRPT. Morgan Stanley reaffirmed an “equal weight” rating and issued a $72.00 price target (down from $77.00) on shares of Freshpet in a report on Thursday, August 6th. Wall Street Zen raised Freshpet from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Wells Fargo & Company decreased their target price on Freshpet from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $70.00 target price on shares of Freshpet in a research note on Thursday, August 6th. Finally, Stifel Nicolaus increased their price target on Freshpet from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.31.

Freshpet Stock Performance

NASDAQ FRPT opened at $71.75 on Wednesday. The firm has a market cap of $3.53 billion, a P/E 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. The company’s 50 day moving average is $57.00 and its 200-day moving average is $62.61. Freshpet, Inc. has a 12-month low of $46.45 and a 12-month high of $86.00.

About Freshpet

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.