Vital Farms (NASDAQ:VITL) Major Shareholder Matthew Ohayer Sells 66,200 Shares of Company Stock

Vital Farms, Inc. (NASDAQ:VITL) major shareholder Matthew O’Hayer sold 66,200 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $9.68, for a total transaction of $640,816.00. Following the transaction, the insider directly owned 6,261,970 shares in the company, valued at approximately $60,615,869.60. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Matthew Ohayer also recently made the following trade(s):

• On Friday, November 6th, Matthew O’Hayer sold 3,550 shares of Vital Farms stock. The stock was sold at an average price of $9.53, for a total value of $33,831.50.

Vital Farms Stock Performance

NASDAQ:VITL opened at $10.01 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. Vital Farms, Inc. has a 1 year low of $7.95 and a 1 year high of $36.10. The firm’s fifty day simple moving average is $9.64 and its 200 day simple moving average is $13.49. The firm has a market capitalization of $429.83 million, a PE ratio of -18.20 and a beta of 1.16.

Vital Farms (NASDAQ:VITL) last released its earnings results on Tuesday, November 3rd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $182.16 million for the quarter, compared to analyst estimates of $181.78 million. Vital Farms had a negative net margin of 3.03% and a negative return on equity of 3.74%. Vital Farms’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, sell-side analysts anticipate that Vital Farms, Inc. will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

VITL has been the topic of several recent research reports. Craig Hallum raised shares of Vital Farms from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, November 3rd. TD Cowen cut their price objective on Vital Farms from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Tuesday, October 13th. Stifel Nicolaus cut their price target on Vital Farms from $11.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. UBS Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Vital Farms in a research report on Tuesday. Finally, Weiss Ratings downgraded Vital Farms from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 29th. Seven 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.58.

Institutional Trading of Vital Farms

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Freestone Grove Partners LP bought a new position in Vital Farms in the second quarter valued at approximately $26,000. Frazier Financial Advisors LLC acquired a new position in Vital Farms during the second quarter valued at approximately $27,000. GAMMA Investing LLC lifted its stake in Vital Farms by 196.7% during the second quarter. GAMMA Investing LLC now owns 3,367 shares of the company’s stock worth $39,000 after purchasing an additional 2,232 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Vital Farms during the second quarter worth $42,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Vital Farms by 77.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,697 shares of the company’s stock valued at $44,000 after purchasing an additional 2,044 shares in the last quarter. Institutional investors own 98.59% of the company’s stock.

About Vital Farms

Vital Farms, Inc. is a food company that produces and markets pasture-raised eggs and other ethically sourced food products. Its offerings include pasture-raised eggs, butter, hard-boiled eggs and ghee, sold under the Vital Farms brand. Founded in 2007, the company works with a network of family farms and focuses on animal welfare, outdoor access and supply-chain transparency. Vital Farms products are distributed primarily through grocery retailers and other food channels across the United States.