Wasatch Advisors LP Buys 204,128 Shares of Freshpet, Inc. $FRPT

Wasatch Advisors LP lifted its stake in shares of Freshpet, Inc. (NASDAQ:FRPT) by 5.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,141,437 shares of the company’s stock after buying an additional 204,128 shares during the period. Freshpet makes up about 1.6% of Wasatch Advisors LP’s portfolio, making the stock its 16th largest position. Wasatch Advisors LP owned about 0.08% of Freshpet worth $244,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of FRPT. Caitong International Asset Management Co. Ltd lifted its stake in Freshpet by 606.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the company’s stock valued at $25,000 after acquiring an additional 358 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Freshpet during the 4th quarter worth $28,000. Signaturefd LLC boosted its holdings in Freshpet by 143.0% during the 4th quarter. Signaturefd LLC now owns 503 shares of the company’s stock worth $31,000 after acquiring an additional 296 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Freshpet by 55.0% in the 3rd quarter. Parallel Advisors LLC now owns 555 shares of the company’s stock worth $31,000 after acquiring an additional 197 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Freshpet by 445.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 529 shares of the company’s stock worth $32,000 after acquiring an additional 432 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FRPT shares. Benchmark raised their price target on shares of Freshpet from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Freshpet in a research report on Monday, June 15th. Stifel Nicolaus set a $66.00 price objective on shares of Freshpet in a research report on Thursday, May 7th. Jefferies Financial Group decreased their price objective on shares of Freshpet from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Finally, DA Davidson lifted their target price on shares of Freshpet from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.88.

Freshpet Stock Up 7.6%

Shares of NASDAQ:FRPT opened at $57.43 on Friday. Freshpet, Inc. has a 1 year low of $46.45 and a 1 year high of $86.00. The company has a market capitalization of $2.82 billion, a PE ratio of 15.36 and a beta of 1.63. The business has a fifty day moving average price of $55.25 and a two-hundred day moving average price of $63.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.18 and a quick ratio of 5.26.

Insider Buying and Selling at Freshpet

In related news, CEO William B. Cyr sold 42,907 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $47.92, for a total value of $2,056,103.44. Following the transaction, the chief executive officer directly owned 204,585 shares of the company’s stock, valued at approximately $9,803,713.20. The trade was a 17.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 4,211 shares of company stock valued at $215,027 and have sold 235,262 shares valued at $11,664,591. Company insiders own 4.30% of the company’s stock.

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.