Tidal Investments LLC Sells 4,477 Shares of Freshpet, Inc. (NASDAQ:FRPT)

Tidal Investments LLC cut its position in Freshpet, Inc. (NASDAQ:FRPT) by 69.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,969 shares of the company’s stock after selling 4,477 shares during the quarter. Tidal Investments LLC’s holdings in Freshpet were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC acquired a new stake in shares of Freshpet in the 3rd quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new stake in Freshpet in the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Freshpet by 3,670.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Freshpet during the second quarter valued at about $52,000. Finally, Brooklyn Investment Group purchased a new position in shares of Freshpet in the 3rd quarter valued at approximately $54,000.

Analyst Ratings Changes

A number of brokerages have issued reports on FRPT. Benchmark restated a “buy” rating and set a $150.00 price target on shares of Freshpet in a research note on Friday, November 1st. Oppenheimer raised their price target on shares of Freshpet from $155.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Wells Fargo & Company upped their price objective on shares of Freshpet from $157.00 to $175.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Truist Financial boosted their target price on shares of Freshpet from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen increased their price target on Freshpet from $160.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.36.

Freshpet Trading Up 1.0 %

Shares of FRPT stock opened at $145.17 on Wednesday. Freshpet, Inc. has a fifty-two week low of $82.16 and a fifty-two week high of $160.91. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.91 and a current ratio of 4.72. The stock’s fifty day moving average is $147.15 and its two-hundred day moving average is $137.10. The firm has a market capitalization of $7.05 billion, a P/E ratio of 163.11 and a beta of 1.41.

Freshpet (NASDAQ:FRPT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. Freshpet had a net margin of 4.75% and a return on equity of 3.67%. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $248.36 million. During the same period last year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. Research analysts expect that Freshpet, Inc. will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In other Freshpet news, insider Thembeka Machaba sold 2,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $153.85, for a total value of $384,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott James Morris sold 5,000 shares of Freshpet stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $157.38, for a total value of $786,900.00. Following the transaction, the president now owns 122,380 shares in the company, valued at approximately $19,260,164.40. This represents a 3.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,500 shares of company stock worth $1,962,175 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

About Freshpet

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.