Insider Selling: Freshpet Inc (NASDAQ:FRPT) CFO Sells 10,000 Shares of Stock

Freshpet Inc (NASDAQ:FRPT) CFO Richard A. Kassar sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $55.50, for a total value of $555,000.00. Following the completion of the sale, the chief financial officer now directly owns 159,994 shares of the company’s stock, valued at approximately $8,879,667. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

FRPT stock traded down $0.39 during midday trading on Thursday, hitting $54.96. The company had a trading volume of 189,800 shares, compared to its average volume of 338,735. The company has a current ratio of 1.36, a quick ratio of 1.02 and a debt-to-equity ratio of 0.36. Freshpet Inc has a 52 week low of $28.44 and a 52 week high of $56.50. The stock’s 50 day moving average price is $50.38 and its 200 day moving average price is $47.08. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -366.40 and a beta of 1.07.

Freshpet (NASDAQ:FRPT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.02). Freshpet had a negative net margin of 1.84% and a negative return on equity of 3.52%. The company had revenue of $65.27 million during the quarter, compared to the consensus estimate of $64.37 million. The company’s quarterly revenue was up 28.5% compared to the same quarter last year. Analysts predict that Freshpet Inc will post 0.02 earnings per share for the current year.

Several analysts have issued reports on FRPT shares. SunTrust Banks cut their target price on Freshpet to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. They noted that the move was a valuation call. ValuEngine raised Freshpet from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. BidaskClub upgraded Freshpet from a “hold” rating to a “buy” rating in a research report on Saturday, October 26th. Zacks Investment Research downgraded Freshpet from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Robert W. Baird boosted their price objective on Freshpet from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $51.50.

A number of hedge funds have recently made changes to their positions in the business. Carillon Tower Advisers Inc. lifted its position in Freshpet by 1.2% in the third quarter. Carillon Tower Advisers Inc. now owns 554,828 shares of the company’s stock valued at $27,614,000 after purchasing an additional 6,420 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Freshpet by 2.8% in the third quarter. Eagle Asset Management Inc. now owns 607,551 shares of the company’s stock valued at $30,237,000 after purchasing an additional 16,310 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Freshpet during the third quarter valued at approximately $269,000. California Public Employees Retirement System raised its holdings in shares of Freshpet by 127.3% during the third quarter. California Public Employees Retirement System now owns 82,607 shares of the company’s stock valued at $4,111,000 after acquiring an additional 46,261 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Freshpet by 27.7% during the third quarter. Fisher Asset Management LLC now owns 138,012 shares of the company’s stock valued at $6,869,000 after acquiring an additional 29,937 shares in the last quarter. Hedge funds and other institutional investors own 95.68% of the company’s stock.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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